Advice for selling and reinvesting later

[Matt Smith]

Hi all, I need some advice from any members that might have experience in this subject matter. I have been planning to get started in REI for several months now but a recent job relocation has put this on hold. I wasn't sure what area to post this in.

What I need advice on is the sale of my current home and then what to do when I return from the assignment. I have been in my current home for a little over 8 years. I will be moving from Pell City, AL (40 miles east of Birmingham) to the Columbus, OH area. My plan is to sell my house in the early May time frame. I hope to make about $40-$50K on the sale. I will be renting for 2 years in Ohio and then I will move back to Alabama. 

My questions are:

1) What would be the best thing to do with my equity while on assignment (I will also be adding $2-$3k per month to the total for the two years). 

2) About 18 months into the assignment, I will be looking for properties on the lake back in Alabama. I want to find a fixer upper for ~$250- $300k and have an "All in Budget" of about $450k. What is my best avenue to look for these fixer uppers? I'll be in Ohio while looking for the properties and hopefully I'll be starting the renovations prior to moving back. 

3) Is this type of transaction where the 1031 can be used? If so, how would I do it?

I probably have many more questions as I get into this transition but these are the ones I'd like to start with. 

If anyone is a real estate agent in the Dublin/ Powell area near Columbus, I'd love to make contact and understand what the rental market looks like there. We went up last weekend to check out the neighborhoods but we'll need to find a rental by early to mid June as we'll be moving up by July 10th. 

Any help/ advice would be greatly appreciated. 

Thanks.

Matt