Not saying it can't work... just requires additional caution.  

I’m in no rush to move once I get into something, especially if it makes more sense to stay out for an additional year or so.

As OP said, hard to find umbrella that will cover STR papered insurance unless I find a carrier that writes it under my name personally and names the LLC as an additional insured (I own my properties under LLCs).  

By that I mean, In addition to buy and hold she would like to always at least be flipping one deal that makes sense.

Aim to purchase and renovate a property for resale, with the ultimate goal of acquiring additional income-generating rentals.

Additionally, so far the economy has shown pretty strong resilience, with historically low unemployment rates.

The buyer can decide how to use the additional space.

I think the stats way back to 40's have the majority of the paint manufactures using lead as an additive. 

Regarding Jonathan's point, it's crucial to evaluate the cost of these additions and calculate how long it will take to recover that investment.I'm a bit unclear about your living arrangements.

Additionally, you will now have 3 houses (your primary and 2 rentals) that are appreciating, which is where real wealth comes from, not from the cash flow.