Of course, nobody wants to be the test case, but I've never heard of IRS treating money from a loan as income, ever.I think you would be better off with a long closing date on the purchase and sell your exchange property fast so you can do a conventional 1031, receive conventional financing with one set of start up fees/costs, etc.

Here is south Florida the market is so competitive prices are going up so fast with low inventory.

Now it going above pre-pandemic was because like Miami, Nashville, and Boise, Austin was a super-fast grower and had massive companies relocate there during that period therefore homebuilders jumped on it.

I see so many investors go out of business due to growing to fast.

I would love to help out while also learning from you as we are growing fast enough to need more robust and reproducible systems.Thanks,Miguel

That’s not much of an upside unless you have few closing costs and flip fast, before you sink money into paying mortgage each month. 

Bad news travels fast. 

I saw how fast the city was growing and decided to make the jump.

Hey @Aaron Gordon congratulations on getting started on your real estate journey here in RI.Starting off with a live-in remodel is definitely a way to fast track your real estate experience.

I'm absolutely not interested in leasing fast at all and I'm extremely picky about tenants and I do things like require a large security deposit (even for section 8 renters, I have three of them and love them), don't supply appliances, take my time doing background checks and arranging multiple calls/meetings with potential tenants.