FLIP + 1031 + BRRR

[Jimmy Chou]

Hey BP,

Need some thoughts from everyone about possibly combining these strategies FLIP + 1031 + BRRR. I'm currently renting and working on my first flip project. While flipping is the hot and sexy passion of mine, I do want to also get into house hacking to improve my monthly expenses. So I'm considering using the proceeds of the flip and 1031 in to a Duplex or anything else I can hack. If this all works, after BRRRing the money back out, I should still have enough to fund my next flip. On top of that, I expect to defer quite a bit of taxes from the capital gain of my flip.

There's one big technicalities I'm not quite sure about ...

Per my understanding, 1031 only works for exchanging investment properties and cannot be used for primary residence. The flip property is purchased under my company's name, so if I 1031 into something else, it'll still be under my company's name. Would being the owner of the company living there be considered as using it for primary residence? Or would I be okay since my company and I are two different entities? If that's an issue, would paperwork showing that my company leasing it off to myself be a fix? Or is there any other way to get around this rule like leasing it to a family member?

Has anyone tried to 1031 into a BRRR before?