I was interested in this deal because it offered the opportunity to convert a single structure into a duplex, maximizing rental income and property value.

This means you retain the tax benefit of claiming active losses now without converting future passive income into active income.4.

Another example is converting the garage into an Accessory Dwelling Unit.

You give these kids an inch and they'll take a mile. 

Unit 1 is currently 1B1B and unit 2 is 4B1B, but the listing agent said the 1st unit could be converted back to the original 2 bedroom making the 2nd unit a 3 bedroom if wanted/needed.

In order to benefit from a 1031 exchange to defer my taxes will I need to convert my primary residence into a rental property and if I do, what's the minimum amount of time that I need in order to hold it as a rental to make sure it qualifies for a 1031 exchange?

We are looking to acquire an SFH that can be converted to a multi-unit duplex or a SFH in need of rehab that could be converted to a multi-unit duplex.

Look at that option, pencil out the numbers and see what makes sense, still flipping and getting hit with a PPP or convert to a rental and hold it.  

From what I see on the market, houses are cheaper than most areas in the GTA while rent is still relatively high.Especially if you can find a SFR and convert the basement into a secondary suite, will definitely cashflow positive.

But on the other hand, you can also convert into a Roth and enjoy tax-free rental income for the rest of your life.Great book: Leverage your IRA by Mathew Allen.