Convert the Property to a Primary Residence: If you live in the property for at least two of the five years before selling, you may qualify for the primary residence exclusion, which allows you to exclude up to $250,000 of capital gains ($500,000 for married couples) from taxation.4.

I have a couple of MFs in AL, some in Birmingham. 

We would touch up and possible paint a couple of the walls/ceilings.

I've been working with an agent for a couple months now in hopes of finding my second deal.

Here are a few simple and free ways to learn: Go to real estate meetup groups, attend open houses and speak with the agent there, inspect FSBOs (for sale by owner), walk your area, and speak to people tending their yards.The idea is to engage with other people and ask, Ask, ASK questions about their experience with the local market.Some other ideas: find a home inspector who will let you tag along in a property inspection, and absorb what they are looking at and why.Your mindset and enthusiasm for learning about real estate will open many doors for you.Good Luck!

You have come to the right place to begin your investing journey.Have you looked into attending local meetings and joining Facebook groups?

A HELOC may be an option but I'm full time real estate (no W2) and have a couple properties and my DTI is relatively high. 

Meeting that 2 in 5 of the last requirement allows a single owner to shield $250k of appreciation and a married couple to shield $500k.Unless you predict a lot of income from the MTR or you feel that there is a lot of appreciation incoming over the next three years (minus time get the property sold), you may want to consider collecting your $100k (passing GO) and redeploying that money to whatever you feel is its best use. 

If for some reason it were to happen, there's a couple workarounds that can be done.

I have a couple of short term first trust deeds ready to mature and need to re-deploy this capital.