Furthermore, the property is cash flow break even, thus any gains will be in the appreciation, small rent increases in future years, and principal pay down.

One that is on the title, and another that acts as the contractor so "owner" can hire "contractor" to do the work.Tax reasons... capital gains reasons... etc.

The impacts of the LLC on the down payment, mortgage/capital gains write offs, and cost of business are significant, plus I can see making mistakes in setting up the LLC as so much of the process is new all at one time.

Do you know a broker that would let you hang your license with him just so you could gain MLS access?

So with my end goal being to own multiple rental properties generating cashflow here are my questions:Should I start rehab in the spring and try to list right at the 1 year mark to only pay short term capital gains or wait the full 2 years and pay no tax?

You will be losing all the equity you may or may not build.The FHA 203k loan program is a bit different and does not limit your gains.  

You can easily lose capital gain rates, plus there is the issue of refinancing.

One strategy would be to create a metrix to identify those properties of yours that would yield the greatest amount of cash but have the least gain and that you've owned for the shortest time (but still over a year so the gain is capital not ordinary income) so that your depreciation recapture is minimized.

More young professionals are moving to the downtown area and PLENTY of projects are on the booksFor example: http://www.cleveland.com/business/index.ssf/2015/1...Cleveland is a market where there are plenty of gains to be made of course buy in the right area thou

Gain good will whenever you can.]