Ideally I want to be there for a year or two then move out and continue renting each dwelling unit.I am wondering if there is anything legally that would prevent me from doing this without going through the process of making it a legal duplex?

I’m just trying to figure if it makes sense to delay the closing to 2019 but my question I mentioned above re: the date of election after starting the flip project is whether or not it would prevent me from getting taxed as S Corp on profits from that certain project because the election would be made after the project started?

Fannie has/d a deed restriction on their homes that prevented a lot of buyers from flipping them as-is.

Your best payback is actually sealing existing windows to prevent drafts rather than replacing.

As much as I hate the smell of cigarettes, I dont think there’s any way to prevent tenants from smoking. 

They think that asset protection planning is immoral because it prevents a creditor from collecting on a judgment entered by a court. 

@Ned Carey How exactly can we do an addendum correctly and what to avoid/prevent that makes it incorrect?

However, I believe FHA with low down has to be owner occupied, so that might prevent you from getting another deal that isn't house hacking.

I've also set up a partnership to do some fix-n-flip projects, but again, finding a good deal has prevented moving forward.

Insurance of the two rental properties you'd plan on buying- Utilities and holding costs of the properties if not rented (like around here landlords have to pay water and trash and we have to keep heat and stuff on in winter to prevent pipes freezing and we have to keep AC on to prevent floors warping and such during summer)Those would equal the amount you need to be able to afford.