@Jonathan Klemm Plans are to either house hack again, potentially live-in flip or maybe venture into 5+ unit commercial

The fact that you moved from your primary residence three months after purchasing may seem a bit strange to your current lender, especially with you potentially having it classified as an investment property in the same calendar year.

Flipping, renting, or sitting tight for long-term appreciation-there is potential for anyone willing to do the work.

And since you are licensed, you can potentially do some sales on the side to increase income and save up for investing.

You can then measure the cash flow impact versus the potential cash you would obtain upon a sale.

Since you’re already networking and have some good realtor contacts, focus on narrowing down your investment strategy (like buy-and-hold or house hacking) and target markets with solid cash flow potential.

@Joseph Leibovitch  What are you looking to do with the potential funds? 

Again, if your $250k is true, and includes all the electrical upgrades, new plumbing runs, potentially new foundation pour (since I assume the existing garage slab is not capable of supporting a new two story house), I am guessing since I don't know the market, but assume you will have a lot of equity by completing the project.

•Instead of transferring the title, consider using strong landlord insurance, an umbrella policy, or a land trust (with your LLC as the beneficiary) for added liability protection.Your FHA Loan Potential for Another Property•Since your first home is already a rental but was likely purchased with an FHA loan, you may still be eligible for another FHA loan—but only if you meet one of these conditions:•You relocate at least 100 miles away from your current home.

You may want to share you analysis with a few banks and/or property managers as they will typically weigh in on your assumptions if they are potentially interested in working with you.