You need to learn more about RSO, I have read something about exemptions when owner occupying.

The Securities Act of 1933 was established as part of FDR’s new deal, post-Great Depression to require either a registration of securities or exemption therefrom.

The biggest benefit of this is that any appreciation of the asset during the 10 year holding period minus your initial investment is tax exempt after disposition.

Really you should engaged a tax CPA/EA who will examine your situation.If your only goal is to be able to buy a primary residence, why don't your parents cash out refi, gift the money to you, preferably under the annual exemption (multiple years if necessary), and you buy a primary? 

If you were the only person on the title or if it was you and a spouse then you can use the exemption.

The benefit of transferring a property into a Land Trust is that the transfer is exempted from the Due on Sale Clause, as mentioned above, since it is considered an estate planning tool.

Originally posted by @Dick Rosen:Correction: I did not know painters could get a license In Arizona, there is a legal exemption A.R.S. § 32-1121(A)(14) (Handyman Exemption) for work under $1,000 (labor & materials).

All units would be exempt from rent control for the foreseeable future.

Is the tax levied on Selling price minus purchase price or does the seller get exemption on selling costs such as broker fees?

After 2 years (this is the minimum amount of time you need to live there to take advantage of the capital gains tax exemption on the sale of your primary residence) you can sell the newly renovated home and take your profits into your next deal.