However, your intent can change and you convert it into your primary residence. 

If you know where any more notes are that can be acquired for $.10-$.20 on the dollar please let me and I might change my business model to a Note investor. :-)

That shows there is no change in character.

The 70% rule changed to 60% rule after 2020..

Kendall,Since you asked, here’s my story.Thirty years ago, in my mid-20s, I made a life-changing move from the San Francisco Bay Area to Ohio.

I never recommend flipping - something as a slight change in the interest rate markets can completely turn your flip upside down. 

With this strategy, we knew exactly how each house was operating and we could intervene or change leadership of the house if necessary to assure operations were going as we expected. 

I have had inspectors look at rooms on renovations that were not permitted (we weren't even doing work in the rooms) and asked that certain changes to be made to bring the room up to code (it was minimal).

Average tenants budget to their income and their income changes very modestly each year on average.

But make sure you make a file labeled "why I intended to hold this and what changed".