Tenants are stable long term residents, and property is located in a desirable school district.

My main goals with these initial projects are:1.Gaining valuable insights into the local market.2.Getting hands-on experience with out-of-state investing, particularly when it comes to remodels and managing from afar.3.Testing the entire BRRRR process to see if it’s the right strategy for me long-term.If all goes well, I’d love to scale up and explore multi-family projects.

It simply depends on your time frame, when you want to actually begin renting the property out short term, and what the loan terms are.

North Linden, South of Main, Vassor Village, Woodland Park, MT Vernon, Milo-Grogan, Franklinton, Merrion Village, Hungarian Village, Southern Orchards, Driving Park, Olde Towne East, Franklin Park, King Lincoln, Old Oaks, Livingston Park are all but not limited to some areas in Columbus, Ohio I think will gentrify quickly and make for great long term buy and holds.

It was purchased from MLS as a long term buy and hold rental.

As long as you're filing jointly, both meeting the 2 yr use test, and either meeting the ownership test, then the full $500k can be claimed. 

I know i personally wont build anything with adjoining walls as the long term liability is to much risk for me.

Right now, my best advice is to determine first your exact investment strategy (long-term appreciation?

Why would you do anything that effectively pays you less than that?

If it won't have any effect then don't do it.