Buying a live-in house as a short term play - good idea?

[John Smithe]

I have been on the forums and reading up on real estate investing for about 2 years now. I am so ready to get started but, like many others, I find it very hard to pull the trigger when properties are at such insane prices. I see properties in my target markets that are 60k higher than what they were just 2 years ago.

I have been hoping against all odds for some sort of crash however, all the indicators I am seeing seem clear that prices are going to continue to rise with such low supply and high demand with rates continuing to go lower and lower. I work in the Loss Mitigation realm and I just do not think the forbearances and payment deferrals are going to turn into foreclosures with everyone having so much built-in equity. In addition, a lot of experts are expecting some major inflation in the next few years. They say that being in cash is not a good idea and to get it in some sort of asset.

I wanted to run a scenario through to real estate professionals much smarter than me. I could not find anything on google (which means this is probably a really terrible idea lol). So, I’ve worked fully remote in Loss Mitigation IT for about 5 years now. I float around from furnished short term rental to areas that strike my fancy. My idea is to look for a higher end house and live in it for 2 years or so. Expectation is that price will continue to go up. I know many institutions are expecting 10% increases this year alone. I would keep my pulse on the market for bearish signs and sell when the dust has settled some. I know timing the market like this is a risky play.  I also know I would need to at least net 10% to cover future selling costs to break even.  

Hoping to get some sort of feedback. Is this just an insane idea because I just want to do something (anything) really bad in a crazy period of history? Or is there logic to this idea? A two-year reset until supply goes up, sell and then filter the proceeds into cash flowing rentals.