Thanks @Joe Villeneuve, though to clarify the "flipping" I discussed is distinct from the 1-2-year hold.

I am a newcomer to real estate investing, and I'm willing to change my ideas if better options are available.3) Conventional mortgage aside, I am well-aware that all-cash buyers have a distinct advantage in moving quickly when deals become available, and all-cash is required on sites like auction.com.  

I don't know this for certain and recommend you contact and attorney for this but I think the distinction might be its fine if you are a partner in the deal or you are some sort of consultant if the work is in the project management. 

@Vincent ParelloMaintenance and CapEx are two distinctly separate line items.  

However, if things change and I am relocated in the near future, how does that affect the homestead distinction if I rent it out? 

Rich Ng I do not believe there is currently a distinction between the two hopefully lawmakers see this loophole of emotional support animals and close it because it is only hurting people who truly need service dogs

I think there is an important distinction to be made, that the people we know who were able to build wealth by investing in real estate likely did it slowly, over a long time - which doesn't let you quit your day job. 

But as far as the mold goes, there's a distinction you'll want to make between a home inspector, and a mold inspector: Not all home inspectors are authorized/qualified to do mold testing.

@Ron Dayley  @Mike Cumbie  makes a nice distinction in his post.. you have licesne for the benefit of investing .. and you get a license to enter the vocation of selling real estate and building a career at that.. two different things.. for the investor.. the cut rate shop works fine.for someone who wants this to be their vocation then full service with great training is recommended as you state..

Other than that there is no difference or distinction in taxation when shifting types of real estate.