You can make this an offer condition and review it during your due diligence period. 

-How long is the hold period, what would the seller/you be putting in with cash if any-What is the % of equity gained -Can any party get out early-What the risks, and who has rights to the deal

If you had lived there first, turned it into a rental and then moved back in within a certain time period (I think it's 5 years) and then lived in it again to qualify before selling I think you get the entire exclusion.

This looks like many things but here are some idea starters for you:- Ensuring that payments are automated for receiving rent, paying mortgage, paying utilities- Ensuring the lease version used is up to date & calendar notifications are on for renewal periods- Tenant screening process is defined and followed- Turnover process is clear and team is in place- etcIf you need a CPA suggestion, I love Samantha Kelley.

One efficient way to manage expenses for multiple properties and entities is to utilize accounting software that allows you to track expenses by property or entity.

It has gotten harder with the new lending seasoning period of 12 months but it is still doable.

If you do plan to flip in that price range you're going to need an intimate knowledge of the area, demand drivers, and how to remodel these older homes efficiently. 

Real estate appreciates over periods of time so it's a snowball effect.

Good turnkey providers should be able to minimize vacancy periods and reduce turnover costs.

@Michael Snider-Held we hear stories like this all the time in the LTR market about the national companies.These companies are setup to make money, period, with little oversight from management.So, owners need to make sure they read management contracts and UNDERSTAND what is covered and not covered.