Im a Novice and scared! Need advice on two of my Properties!

[DHBowie]

1.  I have a Fresno property in escro right now.  A 45k balance is going to go into a 1031 exchange account.  From there I have 45 days to Identify a property of like kind.  What is the fasted way to find a property to exchange into and identify within that time period at a discount?  Should I call Banks about their REOs?  I believe I will need to hold the property for at least a year for the IRS not to penalize me on capitol gains taxes.  I would rather flip the next propery quickly and keep exchanging.  Can I do that in a 1031 exchange situation? What is the highest price I should go on my next property?  How far can 45K get me on my next investment property?  Example 45k is 10% of 450K.   So is this the highest a lender would let me go up to on a property.  I have a 700 FICO.  I make 58k a year.

2.    My bran new Town House in San Jose is going to be complete in the Middle of Febuary.  I want to lease Option in out for two years since Im calling it my primary residence and then sell it without being charged any capital gains tax.  It is 100 %  financing with 80/20.  The 1st and 2nd are equity lines with Well Fargo.  Payment per month with taxes, HOA, 1st and 2nd, Ins., comes to $2100 a month. The Town house is brand new which I got on contract for 385K.  Its a 3 bd 2.5 bath.  Is lease optioning it for $2500.00 a month realistic expect?  I want to also ask for 10-15k up front for the option.  Is that to much?

Im greatful for anyones imput here so let me have it.  These are my only two properties and I dont want to screw myself up financially or pay Taxes.  My goal is to eventually become financially independent and quit my day job.  Thanks for any ones help again.
DHB