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This exemption can be used every two years.A great wealth-building strategy is to House Hack every two years, live in each house for at least two years, and then sell older House Hacks before the 5-year mark.

Mark every home that looks like it needs some work.

If you're wanting to use a GC instead of running the project yourself, then I'd ask a couple in the area what their mark-up is, and calculate using those numbers. 

@Mark Thiel This is not legal advice but I think most LLCs are overrated unless you are required to have them for lending like with many DSCR loans.

I can rebuild it through financing it or through using the proceeds from the rental I just sold that is currently marked for 1031 exchange.

After i reached the 20% mark, i was pretty much breaking even on the property after expenses.

You can refi into a DSCR at the 1-year mark, buy another - rinse and repeat.That's a good idea for the House Hack, but I can tell you FHA offers are very difficult to get accepted right now, at least in Toledo.

Hey mark, familiar with the area.