Did the entire job ourselves because we had to in order to have a home to live in.

The 1% rule isn't relevant for renting your current home.

My first Detroit rental was a S8 occupied home in 2019.

They may be thinking about the qualified vs nonqualified use of the home and either taxing the entire gain or a portion of it.

I am looking at an opportunity in my local area where there is a multiple unit mobile home park for sale.

Well, excluding the single family home that I am planning to rent out in NC in the next week which started as my primary home, this truly is my first multifamily home purchase with an intent to invest.Now, to answer your question, is it wise?

I went to look at a 3 family home yesterday.

Any advise or strategy on home insurance options, or minimum levels of renters insurance would be appreciated.

I have done both and have home in GF

We purchased the home on 08/08/2021 for $200,000, invested $5,000 in renovations, and sold it for $251,000 on 06/06/2022.