For primary residence #3, we bought in the path of progress; so, not a live in flip per se but similar in that we will get high organic appreciation and also add value through easy rehab such as refinishing floors and railings, replacing fixtures, improving landscaping, upgrading tile, etc.

LLC may expose you to SE tax, but only if your income is subject to se tax... 

The typical issue with SE borrowers with Conventional/Govt loans is that most of the tricks that reduce your taxes also reduce your income, which is what's used to qualify you for the mortgage.

There is never SE tax on rental income from LTRs. 

So no out of pocket per se, but I’m not sure if I should be waiting the 3 years or should I be making plans now. 

I want to note, and this advice is not unique to Lifestyles Unlimited, per se, but there are a lot of newbies that go through these various courses, do the 20-100 hours of course work and then feel adequately prepared to start hunting for deals with investors money.Remember, just because it is real estate does not mean there are not major risks.  

I use it, but not to "scale" per se.

SE Michigan (House on Zillow says it's worth $348k it's a 3br, 2 1/2 ba), semi finished basement.My house currently needs a new roof, new water heater.

It's not AI replacing people per se.

I'm sure a lot of old houses don't meet today's code that doesn't make them unsafe per se.