Maximizing Deductions: You can still claim tax deductions (mileage, repairs, management time, etc.) on both properties as long as they’re legitimately related to rental activity, even if one isn’t in an LLC.

Most of our tenants are traveling healthcare professionals, so we’ve tailored our lease terms to meet their unique needs.If a tenant needs to terminate the lease early due to their contract being canceled, we allow them to break the lease without a fee, as long as they can provide proof.

—and work with an accountant to make sure everything is properly documented.As long as your primary goal is to sell the property after renovating, your profits won’t be taxed like long-term rental income.

Rents will continue to fall and property prices will still fall for as long as this remains true.

There is also a Florida property manager who will fund the reno for you if you buy using DSCR upfront with no additional property liens as long as he manages the property. 

I try to keep it up as long as I can so I can save more money for a new or decent used car.

I had one side that was almost a full gut that took about that long as well.

And even that is not too difficult as long as you know how it all works.

Quote from @Joe Mills: You are exempt if you meet one of the following requirements:Owner-occupied buildings Properties with four units or fewer that are owned and lived in by the ownerSingle-family homes Homes that are sold or rented without a broker by the owner, as long as the owner doesn't own more than three at onceIf those don't apply, then you must abide by Fair Housing and you must make reasonable accommodations for people with assistance animals.

However, you could look into a second multi-family in the meantime as long as you have a decent downpayment.