Following this period, if interest rates decrease, I intend to refinance the property, transition it into a rental, and repeat the process by acquiring another property to serve as my primary residence.I'm curious if anyone has attempted a similar strategy and, if so, what pitfalls or challenges they encountered along the way.

I think a full time income as you learn the business will allow you to sidestep some of those pitfalls. 

Depending on the experience we may opt not to go the LLC route and try to establish other strategies for asset protection that is consistent with management and cost minimization.Would appreciate hearing about the experiences of other real estate investors, including about the pitfalls to avoid with this kind of structure? 

@Patricia Smith, I've heard of using trusts to provide anonymity, but I've also come across a viewpoint that highlights their potential pitfall in this other podcast by Joe Fairless.

They can provide tailored advice based on your specific financial and tax situation, helping you navigate the potential benefits and pitfalls of using your AIO loan for home improvement purposes.Regards,KC 

I'm trying to understand the realistic timing, tips, pitfalls and any recommended lawyers as well. 

Any suggestions or comments about pit falls we need to avoid or other advice?

Of course there are more Pitfalls.

In this post, I will discuss some potential pitfalls that can result in you losing your tax deferment.Before I continue…This post is for informational purposes only.

I'd recommend connecting with more people in your community such as landlords and other investors to see who they are using for their services in hopes of finding reliable contractors and well as some advice to overcome the most common/obscure pitfalls.