This will maximise cash flow while minimising management.

So a friend I worked with flips homes on the side and this year is on path to make 750k (legit money esp for a side gig) and he told me one of the best ways to build up income for someone with limited capital is to buy a home as a primary, start the two year clock and then assuming you added value and bought right to sell at the 2 year make, take the tax free gains and get the 2 year clock starting again.Makes sense to me, but im wondering1) if the primary would make a good long term hold would it be better to do a cash out refi and take some of that money (or does that still get taxed) and keep the property.2) Should I locate a new unit, purchase it and then sell my primary as with this market I could end up homeless.Aim is to maximise as much cash as I can over the next 2 years and then dump it into as many income properties I can at year 2 (so I would be able to do one more capital gains sale if I bought a new primary now)Sorry if thats confusing but all info appreciated 

@Leilah Davis what is the zoning of the land - can a developer demo the existing building and build a larger MF structure to maximise income?

This property has more than enough buffer to allow a quick transition to full market immediately maximising your returns.It's a good deal based on immediate rent increases.

Concentrate om multi units to maximise your income.

You will at some point need to consider leveraging your smaller investments into a larger investment to maximise your ROI.Having said that if your goal is only to have cash flow from a couple of small properties is your goal then ROI is probably not a high priority. 

To maximise your returns you must use leverage.

Concentrate on investing in multi units to maximise your returns.If you are not sure you can get $1200 in rent do you have any idea at all as to whether the rest of your numbers are accurate or are you simply assuming.

Ideally you want to keep your DP to a minimum to maximise the cash flow generated by the property. 

To maximise your protection you should be continually pulling the equity growth out and investing it in something other than real estate outside of a LLC.Ideally anything inside a LLC should have very little cash value otherwise you undo the value of using the LLC..