Buy in an area of the city where people are upwardly mobile so they will leave in a couple years as they have high paid tech jobs. 

Then a couple years later, discovered that a piece of paper was signed at closing which was never read and in fine print says something about the home being owner occupied throughout the duration of the mortgage... wtf?   

Going through and underwriting a couple of SFH BRRR opportunities I've came across in the Indianapolis MSA, specifically Marion County. 

There are a couple hundred builds planned for this community but this would be one of the first few.

A couple expense assumptions:Insurance: .6% of market value per year ($1300 to $1700 for garden variety SFH)Repair buffer: $50/moPM: 8% of gross rent + 80% of first months rent HOA: Ranges from $0 to $50/mo.

@Jessica ZolotorofeHello From the Future ;)Ive spoken to a couple title companies, and transactional lenders and I have not heard about double closings/backtoback closings being illegal.

Do not think you can just start an investment company with 15k (that is reserves only on one property).Work for the next couple of years while you all learn and use your skills to help build the foundation of a future company and leverage your relationship with the alumni to see some of his properties and learn.

The non tax-free portion then qualifies for $500k CG exemption for primary residence for a couple?

A couple options I see right of the bat is:1.

Company first, flip a couple homes first, etc.