I realized what might be a better way.Finish rehab.Cash out refinance both homes the max they will give meUse my newly released FHA to buy a 3rd duplex to house hack with a low down payment.Use extra funds (lets say $200k in this example) to purchase 2 $100k homes in local, less expensive markets like Waco, Temple, where we can achieve a 1% rule rent.$2k earned in rentContinue to pay down the ATX duplexes, hopefully continue to earn appreciation on their large home values and simply refinance every time we have $120k+ in equity and use to buy $100k single family home in full in a better market.

I don't think I'm ready to go this route yet, but it never hurts to get some extra information...Thanks for sharing your experience,James

If your Commander doesn't have heart burn with you missing work, it's not such a big deal.

I know it's tempting bear the extra travel costs.

Those comps may feel like poor properties to compare to but they are valuable data points.The regression line will answer exactly what the extra 100 sq ft or bedroom is worth!

If you are using the realized equity to acquire good ROI deals, the extra 1.5% margin would just need to be factored into the analysis of those deals.

. - Now with TV shows glamorizing flipping it seems that anyone with a few extra buck is trying to get into the game. 

Don’t let the money burn a whole in your pocket.  

Or get in touch with a RE consulting company (john burns, etc.)?

I know there's a lot about intent, and intent is hard to prove, but in general flips are indeed taxed with an extra 15% self-employment tax if it's considered actively generated income (you're running a small business).