Another lender tried to run it thru automated underwriting to see if he can obtain appraisal exclusion but that failed. 

A real estatebdeal for a house i currebtly renting past 3 years now went for sale.Real estate agent who has exclusive right to sell the property has communkcated with me over text and mentioned nomerous time i have right of refusal wbich i have agreed tooThese facts are mentioned over whatapp xoncersations with tbe realtor who has exxlusice rights on the propwrtynow the owner got an offer in cash which i can match with financing and have signed without letting me execute my right of refusal as mentioned in text by realtordo i have a legal case here ?

One huge advantage to long term flips is that if you live in the home for 2 of the previous 5 years, you get a $250k income tax exclusion ($500k for married couples filing jointly) which legally avoids the tax man, the downside is that you can only do that once every two years so your other flips will have the profits taxed at your marginal tax rate.

. :) I'd say you shouldn't look at being an agent or investor as things that have to be mutually exclusive.

The sibling who lives in the home will take the Section 121 exclusion to shield $250K of the gains from tax.2.

I will say, that we exclusively invest in the midwest and its the turtle vs the hare approach.

It's probably worth more as buildable lots... because a Golf Course is Business Income, and my guess is it's income is low to negative long term.You paid a premium to live in a (financially) exclusive "Golf Community" and now the core of it will be medium density and no more Golf Course.Those who paid the biggest premium most likley were those with homes right on the green--now they will be on the front lines (so to speak) with medium density (which might include Section-8 and other Governmental Assistance apartment buildings).Melinials (as a rule) do not value playing golf very much, and with the business income of the course being low--highest and best use...It's also probably going to effect your property values...Location, Location, Location.In short doing this seems to really shaft the Existing Homeowners, too bad your city government doesn't rezone it as a huge duck pond, dig it out and flood it.Even with the course closed there are carrying fees, such as taxes and insurance, so leaving it as a self owned green belt would be a shark bite for the owner.It's interesting that they don't want to zone the same as the existing doughnut of homes and want to go with Lower (to no) income group of people in the middle of the doughnut.From a return on investment it makes sense, but so might a stench producing rendering plant.If they zone to the existing doughnut of home the price loss on homeowners MIGHT be less.This seems to be the trend of the future...

There is also no charge for this although some real estate agents may want you to sign an exclusivity agreement.Go to REIAs and network.Are you renting at the moment or do you already own a primary?

Recently a real estate broker told me I would be able to receive the whole amount of the Home Sale Tax Exclusion instead of just half If I were to move into the other unit and occupy it for at least 2 of the next 5 years before I sell it. 

I'd say that the point about getting the property inspected should apply to any purchase, Detroit definitely doesn't have the exclusive on properties with issues.