Will the extension of the 2 out of 10-year rule apply to him if he decides to move back to Colorado and live in the house in the future?

Alternatively, I can file an extension and get 100% somewhere down the line this year.

You become addicted to passively absorbing (often low-quality) information and watching other people make moves (or, often, lie about it) instead of making your own.One of my very successful clients hired a full-time driver so he could spend his extensive travel time reviewing deals, preparing offers and making calls without having to multi-task.

Current HML isn’t the greatest and is only offering 1 month extension at most. 

I truly don't know, but if the gut is extensive and you are going to hire GC anyways, it might be worth throwing some numbers around to see what you can get.

I have learned so much since finding the bigger pockets pod cast and I am so thankful for the extensive education and thought provoking content provided ny the two awesome hosts, David and Rob as well as all their great guests. 

In talking with our contractor to schedule a walk thru to get a scope of work, he informed us the property belongs to one of independent HMLs whom he has worked with extensively.

@Rafal SoltysekI haven't done extensive research on Vegas or Henderson - I should fly out there since it's close and do a combination vacation and real estate search in Vegas. 

The other is a 5 yr fix, by the Seller, with possible extension, due in 5 or 10, AT 7.5% with separation clause and no PPP.

Money from a hard money lender would be better, if it is an extensive renovation, to ensure you have enough money for the home costs and construction.