Flipping tax options

[Douglas Orr]

For almost 3 years I've been purchasing buying and holding rentals. I've recently decided I want to flip some homes to escalate my ability to purchase more rentals. The question I have is, if I haven't identified properties to do a 1031 Exchange is there a way for me to avoid capital gains tax? Or are there any other options? Thanks for the help!

[Natalie Kolodij]

You can't really 1031 on a flip any way

it takes some strategy because the purpose of a 1031 is to avoid gains on an investment (long term hold property) 

You're going to pay regular income tax on a flip unless you'd like to live in it for 2 years and get the primary residence exemption.