So there are a few ways to look at this, the 1st question is are you sure your renovation’s will double the property value, most renovations on primary residences, your lucky to get 60-70% of the dollar cost back out upon sale, so really nail down your comps, than you have basically a math problem if your rate on your primary goes up how long if ever before that extra payment is more than 400k in taxes, that’s just a simple calculation to help you decide, but I suspect you actually have a different question here, from a purely financial perspective my guess is the best option is to do anything to avoid that tax hit, but one of the reasons to make money is to spend it on things that you enjoy, based on your overall financial picture and a subjective view of how much enjoyment you will get out of a renovated home, you should decide if you want to roll your profit into another deal or “cash-out” your winnings, I love cars and I’m willing to spend more than is fiscally smart on them because they bring me joy, there is nothing wrong with that, but i don’t think it’s a fiscally smart choice, without knowing your exact property id imagine a renovation would fall into that category, so that’s the terms I would use to decide.

If you are wanting to invest out of the state of OHIO I would strongly suggest to look here in TX!

I'm in need of some guidance and open to any suggestions you might have.

Any suggestions?

Talk to your broker and see what other advice they suggest before the investment.  

Your mentor has needs; try to meet them and develop a mutually beneficial relationship.A mentor can benefit your growth, but it's not as simple as one post on a forum full of strangers.

I already had to let one tenant out of her contract as she had small children.The gentleman that does my handyman work, and who built my house 40 years ago has suggested a well, but has to be done in April, during the dry season.   

Does anyone have suggestions on where I can find potential properties that would allow a successful BRRRR? 

I'd suggest starting with a small multi-family unit in a location that is experiencing appreciation and cash flow (like Columbus, Ohio).

I’d appreciate you for any advice, recommendations/suggestions.