1031 Tax Exchange on flip???
Ok so I have not gotten into my own flipping yet but am soon, I only am wholesaling at the moment. My question is should you use a 1031 exchange on the profit from a flip or just go ahead with the capital gains tax? And also what if for example you make 20k profit, can you use 10k through the 1031 exchange to defer the taxes and just pay the capital gains on the other 10k? Would it even make sense to do this? I know there may be other specifics here just trying to understand better this. Thank you.