I've read several BP articles on 1031s and am left with a lot of questions:

1. What happens if the final investment property is converted into a primary residence and then after at least 2 more years sold as a primary  residence rather than an investment property? I take it that taxes will  be due on the profits from the previous sales, but will the $250,000/$500,000 exemption apply to the last property? Those taxes would not be due until the final sale correct?

2. What if you spaced out sales or exchanges such that you're only gaining $50,000 total income per year and it's your only income? Then it  makes sense to sell outright rather than exchange because your tax rate  will be lower and little or no taxes will be due, correct?

3. Can you elect to pay tax on part of the sale even though you exchange for an equal or more valuable property, say on $30,000-$50,000 of the profit on each sale?

4. Can you divide up the sale of a single property over years, e.g. either subdivide the property and sell a piece at a time, or do a sort of owner-finance where the buyer is paying you, say, $30,000 per year until paid off?