I do my own property management to keep my expenses low. 

This is a difficult thing to do in today's market. 

However, when you do the 1031 you must have the intent of holding that property for investment use. 

Question #3 do people ever buy title insurance for a flip after it’s purchased, and at that point is it worth it? 

We do this type of analysis in Reno, but instead of going one property at a time, we do it for the entire market simultaneously, so our clients can see the best deals based on potential cash flow and compare them to others in the market. 

If you're new to this, do you really want to take on properties of this size?

It does have some 55+ communities in it, as most cities do.

Our question is, once we do this, how do we recoup enough funds to purchase a second property sooner than a few years from now?

At this point, there's no need to do anything. 

Do we need an addendum in our commercial lease to do either?