But if your intent is to enhance the rentability of a property you have held and rented for 2+ years you're probably fine.Your basis at the end will end up being around 900K (current plus improvements).  

His book is probably the most comprehensive ever written on the subject.

If you want to try renting it out for a while to capture some more equity build then keep an eye on the calendar so you can still consummate your sale so that you have lived in the house for 2 out of the previous 5 years (in other words don't own it more than 3 years after you move out).Many investors work hard to go the other direction and convert investment real estate into their primary residences for the incredible tax break.Couple this strategy with 1031 exchanges on your investment real estate and you will enjoy some nicely enhanced returns.

A vocational or professional education in an industry is always based on acceptable practice to enhance skills and knowledge to succeed.

Getting caught buying an investment property with FHA and not living in it likely involves an FBI investigation and a felony for mortgage fraud.I'm in a similar scenario as you and would be happy to share any of my findings on the topic or send you a few comprehensive reads.

While I think it is responsible and comprehensive to look to the future...you cannot dwell on it too much.

Paul Munley welcome to BP, let me know if I can enhance your team at all.

Bigger Pockets has resources, which can enhance your business such as: ebooks, forums, blogs, webinars, podcasts, an awards system, keywords alerts, learn section, informative people in many fields of real estate, colleagues, and more.

The Commission should take immediate intermediary steps to begin to address issues regarding the regulation of intetmediaries in small business capital formation transactions incrementally instead of waiting until development of a comprehensive solution.This would be a very big deal for the crowdfunding industry if it was adopted.  

It is a great place to share and enhance your REI knowledge.