With a purchase price of $740,000 and construction budget of about $1.3 million, a future appraisal estimates its value at $3.75 million.

I’ve heard from many (non-experts) that I’d need to stay for at least 5-7 years to avoid taking a significant financial hit, but that feels like a waking nightmare given how much this issue affects me.Financially, renting it out isn’t an easy solution either.

At this point, they are doing most likely what others here didn't think was possible, and probably something they failed at. 

Rental property taxes can be tricky, but you have a few solid options:1.

Plus, they have a ton of information and videos on their site.TMC is the CDC (community develop corporation), which the SBA delegates their authority to. 

I’m just taking it one step at a time, learning as I go, and trying to set things up the right way from the start.

I am pretty sure you can not do a 1031 and use the proceeds to do anything to a primary residence.

I have some cash, but likely not enough to fund a purchase without bank financing, and especially not when factoring extensive rehab costs into the equation (may need to up my knowledge on creative financing to bridge this).

You really have too many things working against you on this particular property.

Quote from @Kurtis Carriere: Im looking at relocating myself and my funds to the DFW area after completion of this property and will have aprox 500k USD but looking to only use 300 of it to as investable capital.i feel like that should be a good amount so that way i would have funding issues due to lack of american credit history.