Flip and run with the $$, or hold for rental, eventual 1031 ?

[Charlie Tunstall]

Single family property we own with bank construction financing will produce a pretty large profit after reno is completed. I should be able to finance long term and leave minimal amount of personal $$ in the project. I can save 30%+ on taxes by holding until cap gains tax in place. Rental will produce approx $400/mo gross profit with self mgt and no cap ex, maintenance costs(everything is new!) Holding for 1 year + should produce slightly higher sale price and create opportunity for 1031 exchange if still available in a year. I'd love to swap this for duplex/fourplex down the road. I'm trying to shoot a hole in this strategy. What am I missing? Thanks for any guidance/opinions.