I’m not a first time home buyer but wife would qualify, I want to put down less than 10%. 

I highly recommend a well-qualified REALTOR who works with investors and knows how to help you best.7.

Selling may trigger capital gains tax, but if you lived there for two of the last five years, you may qualify for a Section 121 exclusion.

If you are looking at FHA because of credit score, then I would work on credit scores to qualify for conventional financing or see if you can get a very strong coborrower with high scores.  

They said they will not take rent into consideration and declined me because they are using the mortgage of that new loan, my current mortgage and HELOC payment off of just my income now, which is dumb because of course I can’t qualify.  

I highly recommend a well-qualified REALTOR who works with investors and knows how to help you best.7.

I've had qualified renters move into a rental, add their bum friends or family members, and then disappear, leaving me with bad renters who weren't approved and aren't on the lease.The best practice is to screen every adult, approve them, and add them to the lease. 

I like subto because I cant qualify for an investment loan right now so its a huge benefit, also lower buy in than an investment loan but I agree with you that its not that hard.

The person worked for H&R Block, now works for TurboTax Live and is being honest about their skills: NOT QUALIFIED.

A 1031 exchange doesn’t apply, but funding through a self-directed IRA can defer taxes, though profits from debt financing may trigger UBIT.To reduce taxes, consider forming an LLC for better expense deductions, offsetting gains with investment losses, or holding the property for 12+ months to qualify for lower long-term capital gains rates.This post does not create a CPA-Client relationship.