Under (current) Section 1031, tax deferral is available for the exchange of real property held for productive use in a trade or business or for investment.Also, real property held primarily for sale is specifically excluded.No direct specification of the holding period requirement period is made in the tax code.In general, the courts have been more liberal than the IRS in defining what qualifies.Technically, properties can be segregated and categorized with a single taxpayer holding some assets primarily for sale and others primarily for investment.Without foresight and planning, a serial flipper is not well-positioned to challenge the IRS on this matter.

He has three of them with different loan products that you might be able to use.

I absolutely love the points that @Henry Lazerow brought up.Totally my opinion, but if you can finance using either of these products and do a decent size rehab you will be light years ahead of most. 

And, just last month, they had an unexpected expenditure:"December 2022: The CFPB orders Wells Fargo to pay $1.7 billion in fines and $2 billion in consumer redress in connection with "illegal activity" across several of its product lines."

If zoning stays at the local level, NIMBYs will keep housing production from happening.

I had a conversation with an associate recently about how we are the product of the 5 people we spend the most time around.

Proper Insurance has a great product, they know it and they charge a premium because they have set up an awesome niche that they work well in. 

There are some pretty nice discounts on many products and services offered as Perks to BP members that you might want to check out: https://www.biggerpockets.com/perks/proI really like the alerts feature that can quickly guide you to current topics that may be of interest: http://www.biggerpockets.com/alerts

Depending on the loan product you use you can put from 3-5% down and live in one unit and rent the others out to help pay the mortgage while you live rent-free or relatively cheap while getting started in real estate.

Aside from the product, look for someone that's responsive, knowledgeable, and is a problem solver.