@Bill Exeter Yes I agree intent is reviewed but you are also not mandated to hold properties detrimental to normal business operations.

The investors or operators who advocate wholesaling as taught by these guru methods of assigning contracts as a business model enter the arena of facilitating real estate transactions without a license, tortuous conduct and predatory dealing simply because they follow bad advice.

This would mean your subsequent purchase with a 10% downpayment would need to be insured through Genworth or Canada Gurantee if they are still operational.

We are turnkey operators in CLE outside of your immediate area, but, until I got into turnkey I was part of the rat-race and I am happy I got out and I have not looked back since.

.- I will not qualify for a full or partial home profit exclusion as it has operated as a rental for the last 7 years.- I do not wish to conduct a 1031 exchange, preferring to deploy the profits in stock market investments at this time.Are there any other kinds of significant tax breaks that might be available? 

Just a guy that helps the owner(something along those lines).I hired a PM company to deal with most of the day to day operations on my first property. 

The podcast and lots of books have been my teachers and I'm working to complete a buy and hold business and operations plan by year end.In the near term my goal is to acquire a property using this model by spring 2016.

However the Replacement cost insurance could cost  a small fortune if you are only operating for a year.

Operate a community center and I am a real estate consultant and investor for 33 years in Riverdale, GA

This is calculated by dividing the  Net Operating Income  (NOI) into the Purchase or Sale amount of the property.