Hi,Not sure if this makes sense, here is my grand plan1) Buy few Duplexes/Fourplexes that give cash flow (around 5, and as many as possible)2) 20 years later with substantial appreciation, use 1031 to buy a million dollar home. 3) rent for reasonable period, say 2 years4) MOVEIN to the home, to make it primary residence. 5) After 2 years SELL. no tax for first 500K.

Once you've lived in that house for 2 out of the previous 5 year period you can sell take (with your wife) the first $500K in profit tax free.  

I know you have 180 days to close but that 45 day identification period seems tight.  

As to title, I'd be concerned (as I implied above) that a junior lien holder might find some way to get their title company to beat you up over a period of time.

If an investor takes a set time period (month, quarter, year or many years) and they have higher income than expenses on their bottom line, they have netted a profit.  

I do plan to live in the flip for the required period of time.

Will be looking for investors or property developers periodically and I hope I came to the right place to do so.

Many couples  want to use the 5 year period post divorce for real property transactions that can still benefit from the section 121 marital exclusion on capital gains. 

In order to calculate ROI you should assume the holding period, calculate appreciation and accrued equity and involve Tax consequences.

Every town has its own time period and it is something you should be aware of in future deals you might do