The question is, what is the intention  of the owner, not what would a reasonable person think is the intention of the owner.

My personal preference for a buy and hold would be an already established area (or an area that's still gentrifying, but has already seen significant progress). 

Hi All,Newbie here, just a quick question we are building an addition on our second home, we have a primary residence, and two rental properties. We are trying to not use our retirement funds. Are there any strategies...

The primary residence exclusion is $250k per person on title.

Explore my personal favorites, Set For Life by Scott Trench or The Total Money Makeover by Dave Ramsey, for invaluable financial insights.3.

Explore my personal favorites, Set For Life by Scott Trench or The Total Money Makeover by Dave Ramsey, for invaluable financial insights.3.

My recommendation would be to engage an investment property focused realtor (not a general residential realtor) and let that person guide you through the process from pre-qualification to market/property valuation and selection. 

At the price point you qualify for, I'd be looking at a more landlord friendly state with more approachable price points.

I've know him personally for years, had the opportunity to consult with him on both sides of the business and have to say he's the real deal. 

I liked his perspective, his approach to investing and his “voice”.