The rules are pretty complicated and the only people who really know all the terms and rules thoroughly are the Rent Levelling Board.Caveating that I’m not an attorney so go seek your own advice but I clarified a few things at a recent rent levelling hearing (which are open to the public and you can find the schedules with a simple Google).

Just remember that wholesaling is much tougher than all the gurus make it seem to be, but not impossible at all if you create the right systems and understand, when you are new, that you are solving problems, not throwing cash.

Been doing my homework and looking around to team up with some excellent individuals and create a working system.  

Since you’re considering converting the upper unit into a short-term rental, you may also want to implement strict rules around smoking or strong odors in your house rules to avoid future issues.

I plan to never pay tax on the appreciation with the current tax rules (1031, die with step up basis, etc).Best wishesYou are way off topic.

Once you're ready, create a goal (e.g., "I will buy at least one single-family home, duplex, triplex, or fourplex before the end of 2019") and then do it.

Create a simple spreadsheet or written list to compare the features of each and identify the ones that align with your requirements.

Obviously would be a slower process, but would create very little debt hanging over your head.

And you're right, it moves fast when the value-creation chain is created on both sides of the transaction.

So if I understand this correctly, by qualifying to extend the 5 year rule to 10 yrs, $250k if single or $500k if married of proceeds from this sale would be exempt from capital gains?