I am building a home that has toungue and groove interior walls and ceilings. 

I have been working full-time RE,  BRRRR method on single-family homes in my local area for the past 4 years.  22 homes completed-  (2 sold) 20 long term rented.  

Though my real estate business focuses on multifamily housing, this topic resonates deeply with me.I remember talking to my father about why he lived at home after graduating from college in the 1950s.

What tips have you guys been using as starters to start with peace of mind on your asset protection journey?

Is it possible to purchase a home from someone, and give them the first right of refusal to buy it back at a specific price at a later date?

My family moves almost every 2 years due to my husband's job, and we're trying to save enough for a down payment on our first home.

It's all about what you're looking for and if your home qualifies :)  I would recommend reviewing your specific situation, the value of your property, and your risk tolerance to determine the best approach.

This may be more of a question for a lawyer, but from a tax perspective, that's my input.It's also worth looking at the sec. 121 home sale gain exclusion to see if it might be something you qualify for in order to take advantage of the exclusion amount since you mentioned it was a previous primary residence.

If you are willing to spend a bit more, you can find good homes for the BRRRR strategy, they are going to cost you $125-150k, but in better parts of town and more appreciation.

Find Brandon's videos on YouTube for the "four square" method of analyzing homes and practice.