If you pay the loan off before selling or do a refi and have $1 of equity, it won’t affect your taxable gain. 2) if you stay 2 years you’ll have 14 years of personal use out of 22 years so 63.6% of the gain cane be exempted, up to $500k.

I've got little personal resources backing me up but am ready to dive into REI full go.

I know of several excellent property managers in the North Alabama area that would service the Harvest area, including several that I've never worked with personally, but have a good rep in the area. 

You look like the kind of person who is going somewhere.

In 2008 when the stocks went down, I realized my 401k was invested with a person I had never met.

However, a common benchmark is aiming for at least 6-8% cash-on-cash return based on your total investment (purchase price + rehab + closing costs).Always factor in appreciation potential, tax benefits, and personal risk tolerance.

He knew the person selling this property and asked if we were interested.

Meeting the team personally has some value but I have worked with dozens of investors who have never been to Memphis and never meet me face to face. 

Quote from @Amanda Dobbs: Is there a place to find Private Investors as in one person?

Sloan, he seems to be knowledgeable about commercial real estate and after peering over his website briefly, it seems that he offers personalized training to people new to the business.