@Shay Yao, yes, the parents are renting and living within the zoned school district.

My interest in entity transfers is the ability to forego a massive increase in the tax bill upon reassessment.

It could be as soon as next week that I'll be back in Austin, so I wanted to see the likelihood of doing a single flip, for the first year, and what this looks like financially over time as we increase.

., one-year ownership before renting, minimum lease terms, or rental caps in the community).

With that said, if the property was in West Hartford, I'd probably be willing to reduce my management fee because West Hartford is easier to manage AND the rents are higher.  

You get the same FHA benefit and have a better economy of scale renting 3 units instead of 1.

The tenant fails to pay their last month's rent and leaves the place needing new flooring and paint.

(But not for a “I’m going to live in it 50 weeks out of the year and rent it out two weeks”, IMHO, if that was your idea.  

Even better if you buy 2-4 units, live in one and rent the rest - then repeat every 12 months.

I was literally living in a construction zone, spent $35,000 and lived there 3 years while acquiring 2 other similar properties to rehab and rent out.