Once you clear the 2-yr mark of living there yourselves, you can likely use the full $500k.Disclaimer: I said likely, because there could be a mountain of complications, as well as some different opinions from my peers.

It's not that complicated, but it's not fast or easy.

When I first went through the course I established my buy box based and followed his underwriting techniques.

Lawyers may have to be involved, thus delaying and complicating the process, however, as long as nothing was done with intent of causing whatever caused the claim, they'll cover it.

There's no need to go looking for something complicated. 

Really, so the most complicated, intricate is the "best place" for those who know the LEAST...... 

In a contract for deed, often done with seller finance deals, the answer is a little complicated.

You can do self directed IRAs and 401ks, but it complicates things a lot and you loose depreciation.   

Lending is a highly regulated, complicated endeavor, and it's important to know all the requirements for licensing, etc.

It is a little more complicated than recommending zip codes to invest in since Detroit is a very block by block marketplace.