2 years of employment history.

So instead of paying the bank for a home equity line of credit on my first home and paying them interest, I was able to use a personal loan to myself via my employer 403b and pay myself back with interest. 

There are lots of different types of renters, employers, property types.

I would like a property that is on or just off of a paved road.

P&L sounds like it might be for self employment income.   

If we crush the rehab I think we can even push closer to 200Cash-Out Refi Amount: $131k (75% LTV of the conservative 175k figure) Profit if done as a flip: 60k. (175k - 115k purchase price & rehab)Cash Invested: 18k (This accounts for $7,500 for down payment to lender, $2,000 in EMD to seller, lender fees, inspection, insurance, title, projected 3 months holding costs at $1000 per month)----------------------------------------------------------------------------If I do it as a flip, from what I understand, I'll be hit with a ridiculous tax bill (24% short term capital gains + 15% self-employment tax), leaving me with roughly $36k after-tax profit. 36 - my 18 invested leaves me with 18k increase to my net worth.

Maybe I'm not communicating clearly, I am employed I was only temporarily laid off.

In the IRS Private Letter Ruling that caused people to worry about this they said they would consider it subject to self-employment taxes (schedule c) if you provide services above and beyond.

In the Raleigh Durham area we also have a strong university system that employers can draw from to support their employment needs. 

Are there any big employers up there?