This exemption can substantially reduce or even eliminate your capital gains tax obligation, depending on the profit you realize from the sale.

The lender is not required to include this contingent liability as part of the borrower’s recurring monthly debt obligations provided the lender obtains a copy of the applicable loan instrument that shows the borrower’s financial asset as collateral for the loan.

You have no obligation to communicate with them.

remember, its profit, not income...To protect your corporate veil, you should have all the documentation in place, such as a contract especially since its not an arms length transaction. 

You pretty much can't go wrong doing a house hack when the time is right, so I would try to make that a part of your journey early on here before life gets in the way (family, kids, obligations, etc). 

Quote from @January Johnson: Since today is the deadline to file 1099s with the IRS for all contract workersUnless they are an S-Corp or C Corp.   

Hello Amy, I’m in the Marietta Ga area and I’m in week 3 out of corporate world, doing my own thing.

Plan on living there between 1-2 yrs while making improvements, and renting out other parts of the house if possible.  2 years for tax benefits, 1 year for lender obligation before you move on to another purchase.

I'm thinking it would be structured like corporate housing but would love your thoughts.Thanks!

Financing deals through your LLC will be more expensive.And, as soon as you mess up one transaction or one signature block, you very well could have just "pierced the corporate veil" and rendered all these LLCs meaningless, depending on how it was pierced.At the end of the day, this is not a matter for BiggerPockets.