Then on year 3 of not living in it you could sell tax free before the 2/5 yr rule expires.

The 3x rule is just a rule of thumb.

Please read the rules here.

I just want to get the management side of things right if I were to commit virtually all of my resources to it.Best,Dustin The rule of thumb is somewhere between 80 and 150 units is when you will need FT maintenance (depending on age and amount of deferred maintenance). 

I have actually seen this before and courts usually stick to the rule unless you get dam lucky. 

The City I invest in has a somewhat outdated rule that states an emergency contact must reside within 60 miles of the residence. 

Not exactly sure what Safeguard does but if they are originating notes for owner occupied properties then they need to follow the Dodd Frank rules and anyone buying such notes should make sure they did.  

So, as previously mentioned, the rules can be changed at the developer's whim.

There's no point in having a rule if you don't know how to enforce it.Example:Requirement to Maintain Renters Insurance:The Tenant acknowledges that the Landlord’s insurance does not cover the Tenant’s personal belongings, injuries, or other losses.

For me once I've identified the target market/ideal guest, my rule of thumb is if enhances their stay/they'd pay extra for it splurge.