They have had talks about letting us approve members in the future but I'm not sure if it will happen or not.For us the benefits of higher cash flow outweigh the costs of evictions when they do come up.

You should speak with your accountant first to make sure a cost segregation will benefit you.

But, since you only lived in it for a year, you will have to pay capital gains. 

As @Matthew Porcaro says, a big benefit of house hacking is that you are living in one unit and renting out the rest.

Enjoy that music--this is definitely a moment when agents who can say no, and drive action--will see some serious benefit. 

I'm doing a cash out DSCR refi so I still get some of my capital back and can take advantage of cash flow/depreciation and all the other benefits of holding. 

Otherwise you can break the limited liability benefit (if operating as a LLE).

But for straightforward setups, you can actually form an LLC directly on the PA Department of State website yourself, and it’s very cost-effective.For larger portfolios or more complex structures, some investors prefer going through a real estate attorney to ensure their LLC is set up to maximize tax benefits and liability protection.

I work on both the loan and the realtor side so let me know if I can be of benefit to you. 

In order to benefit from a 1031 exchange to defer my taxes will I need to convert my primary residence into a rental property and if I do, what's the minimum amount of time that I need in order to hold it as a rental to make sure it qualifies for a 1031 exchange?