@Qiong Yang If one unit satisfies your reinvestment requirement to purchase at least as much as your net sale then any amount over that can be used for your primary residence. 

But you have to be there 10 years consistently after obtaining the proper residency and approved permits AND meet the annual donation requirements, THEN it will be reduced to 5%.However, after reviewing this again,I feel all the other details associated with Act 60 is not really worth my while.

The more frequent the turnover, the more time required and the corresponding higher cost.There are also market variables, dependent on the property location.So, you are basically correct with your theory:)

We have been in a housing recession (arg, 2022) with regard to inventory and we do require inventory to increase to the mean, to return to a more normal market.

It is not a requirement to invest in real estate, many people are successful starting without it and that was my point.

If you're now in Salt Lake City (or surrounding area), a house hack may not be the worst option, because you'll get favorable terms and require less down.

I’m looking for cash flow and am not afraid of value-add properties requiring work.

To me, there's no comparison when it comes to complexity and required involvement between the two.

That said, other states don't require premiums so investors' risk may vary. 

totally hear you, pre 2021 in knoxville was a totally different ball game. again depending on your goals and strategies, your expectations aren't unrealistic. some deals may require more of an investment to make the numbers work like one of my student rentals that was a full gut project and took nearly a year to complete yet it spits out 15% cash on cash returns annually and i purchased that late 2022. investing in general is a risky endeavor, it's all relative to ones own risk tolerance depending on their position. we try and make calculated risks and look to evaluate multiple exits before pulling the trigger, yet there is still some risk involved. maybe a reit or syndication is the way to go if you want to be in real estate yet don't want to take on the properties yourself. either way i'm happy to make some local connections.