The tenant pools are great, as we are the State capital, we have two MAJOR hospitals, government jobs, large developments happening (out-of-state union workers), MSU, Lansing Community College, and so on. 

Wages will also go up, and we will see a better labor/capital balance as we negotiate end-stage capitalism.  

By partnering with Billy Medlen, we provided the necessary capital to purchase the property and fund $47,000 in renovations.

That means either you won't cash flow or your Return on Equity (ROE) will be terrible.Since this is your primary residence you'll be exempted from paying capital gains taxes when you sell.If you sell to your parents, it will be considered a non-arms length transaction and will get closer scrutiny.

The BRRRR method and house flipping are both fantastic strategies, especially if you're resourceful and willing to put in the work.If you’re working with limited capital, partnering with others or exploring creative financing options like private money lenders or seller financing might be worth considering.

Full disclosure: I'm one of the owners of JWB Real Estate Capital.

. - If you rent it two more years you lose the homeowner capital gains exemption. 

The capital invested in this project is not as simple as the template BP gave me so I'll explain a little bit more here:This is a 1031 exchange build to suit.

I knew I was interested in capital raising. they had zero education about that topic.

The other thing is that if the house is really appreciating rapidly, if you lived there 2 years and sell within 5 you get to keep 250k of the capital gains, which probably makes better sense than keeping long term as a rental.