My question is, if I want to remodel aspects of it to increases its valuation does it make sense to wait until I rent it out a year to someone or do it before hand ? 

.: @Travis Boyd you’ll lose more in interest rate increases, potential property taxes increases, realtor commission and other transaction costs than you’ll pay on any future cap gain taxes.

In a seller's market, home prices typically increase due to limited inventory, while in a buyer’s market, prices tend to be more negotiable.

I want to build a home on the property to increase value at some point.

The increased depreciation deductions can offset your taxable income, including gains from the sale of the previous property.

Purchase price: $430,000 Cash invested: $85,000I bought the property partially renovated on the interior, then proceeded to do updates to increase value.

The best way to get started or increase that flow is to go to real estate investor meetups (@Leka Devatha has an amazing one in Seattle) and also answer questions in the local forums without ever asking or offering help in terms of your business.

Unlike San Diego, the laws about rent increases and evictions and things like that are more reasonable for landlords, making those nightmare evictions stories and squatting stories less likely (hoping I never have to take advantage of that but still good to know)So i'd look for things like that if you can, good luck and do let me know when you end up closing an out of state flip!

Quote from @Jonathan Greene: This trend has been growing increasingly, but it's actually hurting most new investors.

Much of this type of business simply comes from portfolio management, tweaking a portfolio by one entity releasing inventory and acquiring more, it increases the yield by conducting exchanges over having a note sit there paying to maturity.