Look at the product on the market.

That's a conventional product so PMI can drop off once you have enough equity in the property.

You can call some local production and spec builders and ask them what they can pay for lots.

Is there any guidelines on exactly how often you have to sleep there in order for it to be valid?

The notice to the landlord shall be accompanied by either: (i) a copy of a valid order of protection issued by a court pursuant to Chapter 50B or 50C of the General Statutes, other than an ex parte order, (ii) a criminal order that restrains a person from contact with a protected tenant, or (iii) a valid Address Confidentiality Program card issued pursuant to G.S. 15C-4 to the victim or a minor member of the tenant's household.

Timing will be key with rentals, as this neighborhood’s rental market is on a 9/1 lease cycle, meaning we will need to be done with renovations by July latest to ensure potential tenants have time to walk the finished product prior to lease signing.

Open to all valid knowledge and information!

Guessing this is a no because it will all have to occur under same name/tax id for the 1031 to be valid.4. 

On a side note, why are you going with this product?

Seller demanded $1400 to stay in escrow. 2nd lender was 5.375% for the same product but managed to close 90 days into the initial escrow..which put me into December with a vacancy!