The tax rate is higher on flipping, the risk is higher, and having one flip go south can ruin an entire quarter of profits.

I think it will need to be sanded but we are not paying anyone for the job and are hoping to get by with puttying (larger holes only), then a pass or two with 100 grit, then poly.

Before that it was primary residence since January 2019.Do I need to sell it this October to avoid capital gains tax to qualify for 2 of last 5 years exemption for capital gains (up to 250K single, 500K married filing jointly)?

We can use income filed under Sched E once it shows up on a tax return.  

You have to pay to  take it off and pay to put it back on.  

So far, not a single call.From everything I've read from REALTORS and investors, you have to create an annual budget and stick with it for six months to a couple years before it starts to pay off.

I live in Ann Arbor and it's a really tough investment market because of the high values and taxes.

As an example I have spoken to many and have volunteered to share lessons learned from notes, private lending, or any other type of real estate and first questions are “what will you pay for referral fee” or it costs X to speakWhen I tell them I am not selling anything - they don’t care.

You don't necessarily need a w2 for active income it can also be anything else like self employment works too you just have to wait one year of tax returns but run your business for at least to years to use it and make sure you don't write off too much as you want to be able to use the income to qualify for a mortgage.

That should allow you to avoid the "pay and stay" rule.