But your primary is a bad idea….1) you’d create taxable income with the rent from your primary2) improvements are capitalized /depreciated3) you’d lose your homestead exemption/protection4) you likely lose your section 121 exclusion

If you were truly to get perfect tenants and they were fine with paying market rents with improvements done, a lot would depend on what kinds of improvements you are making.

If you can find a slightly distressed condo to buy at a discount and improve, I think you'll be fine on a three-year timeframe.

improvements/fixes from states away was a challenge

Rehab expenses are improvements and they are added to basis.

My property manager for an existing rental took on coordinating improvements to my former primary residence in getting it prepared to rent. 

I improved the management of the Subway which generated more cash flow and did minor improvement to the property (asphalt refinished, painting the exterior of the building, new lighting).

As I understand it, Tenant Improvement budgets make sense in A and B Class buildings/neighborhoods where the price and length of the lease should provide a reasonable ROI/breakeven for the landlord.

However, I am always wanting to improve and learn.

When you are starting out, build your processes and stay in one lane until you have a foundation solid enough to create another branch.Know your strengths and improve on your weaknessesIf you are great at flipping itself but struggle with marketing and acquisitions, focus on what you are good at and get it really dialed in.