First, focus on building a strong network—relationships are key in this business.

Therefore, you don't need to use a 1031 exchange; you can take as long as you wish to find and then buy another property.The only exception is if there is debt on a property, in which case there will be some UBIT (Unrelated Business Income Tax) implications.

Your new place should turn into your new business location as well. 

I still read a ton of business and real estate books going on 5 years doing this.

And of course, take advantage of the tax benefits along side my current business income.Viability of the idea?

Give your state's 'cure' term ("In New Jersey, a tenant has three business days to pay rent and court costs after a judgment of possession is issued to avoid eviction.

You will find that every PML has a different business model.  

They are known as the Winthrop Factors-The purpose for which the property was initially acquiredThe purpose for which the property was subsequently heldThe extent of improvements made to the propertyThe number and frequency of sales over timeThe extent to which the property has been disposed ofThe nature of the taxpayer’s business, including other activities and assetsThe amount of advertising/promotion, either directly or through a third partyThe listing of the property for sale through a brokerThe purpose of the held property at time of sale; the classification as an investor or dealer is determined on a property-by-property basis.To me intentionally buying a property to renovate it to resell it for profit, twice in the same year, and opened an entity to do it in ....is going to be ordinary income and not capital gains. 

So back to the drawing board, but for myself the big takeaway is to continue on the course that I set out on and too continually learn and stay involved with goals that I set out on and to stay focused.

I am a general business major and also currently working on obtaining my real estate license to become an agent.