If the builder is willing keep the project in his name while constructing then indeed when you sell you can execute a 1031 exchange and buy the new property when it is complete or when the value of it is enough to cover your exchange but within the 180 day limit.You just can't take title to the new property until the old property sells in order to complete the exchange.

Is the contractor paid after work is completed?

@Michael Plante, Thanks for the suggestion. 

Completely agree pre-quals are basically worthless (promises), I understand that and I wrote it incorrectly.

Did you complete the flip and now selling it or are you under contract to purchase it?

I did Allied and completed everything in about 5 months.

If it continues to make you money, there may be no reason to sell at some point to invest in your current city.I'd probably not live in any Pueblo neighborhood if I could avoid it to be completely honest.

@Michael Singh I have a list of mortgage specialist I work with who primarily work with 203k and FHA loans.

So just completed a home/termite inspection on a duplex, found termite residues (State of NC defines it as active termite infestation), there is minor noticeable damage on the shoe molding on the floor but no signs of wear and tear on the wall but I nor the inspector cannot tell without ripping apart the wall how bad the infestation is- the seller is willing to pay for a termite extermination but my concern is how much damage these termites have already done on the inside of my walls that I cannot see- is there a termite expert professional I can hire to inspect the home more in depth during my due diligence period or anyway for me to get a peace of mind for this matter? 

Thanks @Kevin Lefeuvre we're insured, stuff can be replaced, I hope everyone in the path stays safe too.Some gallows humor, hurricane style, we JUST finished a complete overhaul of one of the suites.