After you know your why, work backwards to establish short-term and long-term goals to help you accomplish your why.Understand what to you constitutes a great deal.

Addition of a provision allowing the owner to terminate the lease as described in this clause to a new or renewed rental agreement or fixed-term lease constitutes a similar provision for the purposes of subparagraph (E) of paragraph (1).Note it explicitly states “if a provision of the lease allows owner to terminate the lease if the owner ...”.  

After you know your why, work backwards to establish short-term and long-term goals to help you accomplish your why.Understand what to you constitutes a great deal.

@Jim GoebelEchoing what my fellow constitutes are saying... a builders risk policy is what is needed for new builds or in your case a total reconstruction.On day of closing of a investment property that you are planning to flip or do renovations to, we recommend having a vacant home policy set up to protect your asset.

Seems to me the answer to my question is "any home that is resold in < x months, with any $ having been put in, constitutes a flip and is taxed as ordinary income".

Know your why, set your investing goals to accomplish your why, know what constitutes a great deal, and practice analyzing everyday. 

Know and establish your criteria of what constitutes a great deal before you get started.

- What to you constitutes a great deal?

After you know your why, work backwards to establish short-term and long-term goals to help you accomplish your why.Understand what to you constitutes a great deal.

However, the LLC can provide some liability protection.In my opinion, you should spend time educating yourself about real estate investment first and what constitutes a great deal.