Quote from @Jules Aton: If you are doing high grade laminate that should be good.

I updated the kitchen with high-end appliances, installed custom cabinetry, and added modern finishes throughout.

In my observation here in Santa Rosa, the first lots out of the gate that sold went for too high of a price. 

And therein lies the risk of high-leverage.  

By and large, QI's have very high ethical standards, and are sometimes overlooked as the engines of this tax saving tactic.]REPUTATION MARKERS 📊INDUSTRY STANDINGMembership in professional organizationsLeadership roles in FEAEducational contributions to the industryRelationships with major title companiesCLIENT RELATIONSHIPS 👥Testimonials from CPAs and attorneysReferences from title companiesLong-term client relationshipsTransparent fee structuresRELATIONSHIP RED FLAGS 🚩Overly familiar with your realtor/brokerKickback arrangements (illegal!)

I am a highly motivated individual, however, and I'm dedicated to getting into real estate investing.  

My answer would certainly be highly dependent on his own emotional make up, his desire to relax and travel, his willingness to delegate and outsource, etc.

Your income isn't high enough for it to make sense as a rental and the closer you get to your residence limit the greater pressure you will have to sell it before losing your exclusion in whole or part. 500k right now can make $15k per year income with zero maintenance or tenant risks. 

Before bigger pockets moved the rent estimator to pro users only it estimated rent to be around $975 I don't know or have anything to go by but I thought that was high.

I would highly recommend sticking to the 30 year option or not doing it at all.