You would DEFINITELY need to talk to a tax pro before you make any assumptions, and you'd need to be able to show that the event causing the sale was 'unforeseeable' etc,  but there are potential options out there if you need to sell the property before you hit the 2-year mark.Here's the IRS Pub on the topic: https://www.irs.gov/publications/p523/ar02.html#en...You can find the exemptions by navigating via the table of contents at the top.

I think your assumptions are probably correct in that they probably found another place to stay and are looking to refund their money.

without knowing anything about your landlord/tenant laws, this is what I think...they pay for a whole month. if a tenant decides to move out in the middle of a month, you wouldn't refund half the rent. same should apply here. that being said, typically you are not allowed to earn double rent so if a tenant left halfway through and you re-rented immediately you would then have to refund original tenant.you are now taking rental off the market, so in my opinion the right thing to do would be to refund for any days you occupy, same as if a new tenant were taking over. if you move in on 15th, refund 1/2 if you move in on 20th refund 1/3, etc. that's my moral assumption, and is not based on your local laws and is not intended to be taken as legal advice.now...if you wanna be a nice guy you can refund half the tenants rent for the month in light of the fact that you are forcing them to uproot their lives, and thank your lucky stars you are not in a state that requires you to pay moving expenses when owner occupying...this is purely a good will gesture though and has no business value

@Chad Nagel you are right on with your assessment of the insurance carriers;  even the abacus and courier pigeon assumption. 

In a hotter market you might pay more for work you'll end up doing but that's just how it is.I would say to verify all the numbers properly first to make sure your assumptions are on point.

@John Nachtigall  you make a lot of assumptions in your post about my track record and my level of respect of money without actually knowing anything about me or my history.

There are a couple assumptions that are necessary to support this strategy.1.

@Andrew LarsonWe can't say yes or no without seeing any assumptions/numbers.Rent $, mortgage $, utilities $, vacancy %, maintenance %, Capex %, rehab $, cash on cash return $/%

I want to get at what the NOI will be under my set of buying assumptions.  

Can't speak to the rookie program comment, as I don't want to make assumptions.