I guarantee virtually no one is meeting that rule in SD because they're all on here looking to buy in Cleveland or Detroit because in that market price to rent ratios are so askew that buying at a 50% discount probably doesn't get you the 1% rule. 

What do you do when in house goes on vacation? 

It is up to the landlord to do their research and keep on on things. 

One is house hacking. 

I would add to this one pound into you the good relationships you have with the contractors and agents in your area will be your best and most helpful relationships.

Depends on rhetoric vs reality.

I also almost got a bridge loan with them because that’s the one that made sense to me.

If you are trying to continue holding the other two properties then you should pull out some equity in the form or a cash out refinance on one or both or use a portfolio loan as @Jimmy Murray suggested.

Hi Jonathan,Congrats on your first big renovation deal—it’s an exciting challenge!

However, the one CPA I briefly talked to said the investment would be treated as passive.