welcome @Timothy WadsworthBP is a great place to network and gain knowledge.

If one decides to reside in one of the units for 2 years prior to selling will the $500k exclusion take place and gains taxation would only be imposed on a selling price of $600k or higher?

I would like to find like minded individuals to gain knowledge from.  

Now if you build from the ground up or do a value add lease up with vacancy you can get a higher cap rate.The ones that are already stable in great area the owners will  not let go at a really high cap they will just keep the cash flow then eliminate their equity gain from buying 4 years ago.

Hey Bill, so I purchased both properties for the long term gains.

I am searching for a person who lives in North Carolina to give me insight on being a real estate agent.

I thought my best bet would be to become an agent so I could learn how the real estate market works, gain capital, and most importantly create relationships with people who can show me the ropes and point me in the right direction.

Thanks so much for the insight!!

Ultimately, I'd like to get to the point with investing where I don't need to have a full-time corporate job.I look forward to meeting people on here and gaining the knowledge to become a very successful investor. 

Simple - just be generous with yourself, and assume they'll trash everything in sight and steal the appliances, cabinets, plumbing and electric.