Philly: buying cash deals /flips with 1031 exchange?

[Joseph Wright]

I have primarily been involved in mostly cash transactions, as well as a good amount of hard money closings. 

Can you sell your rehabbed property to buy more distressed property using 1031?

I have recently been in a wormhole of using a 1031 for investing purposes, spoken with a lawyer, title agent, accountant, and a broker. The answer I have seemed to found is yes and no, it seems to be a complicated process that potentially save an investor a great amount of money. 

Concepts I think I understand are :

If the transactions are not of equal value you, you pay capital gains on unused profit. 

45 days to identify deal of equal value / 180 days to purchase them. 

Also can you just keep rolling over a 1031 exchange over and again?

Has any investor in Philly had success or knowledge using this as an investment strategy, that could share any info?

Thanks!

Joe