Also if you can prove you needed to upsize or downsize sometimes you can have 2 FHA loans.

I've learned more on bigger pockets by listening to the podcasts and reading blogs than I did for the majority of my college career studying real estate finance.I use professional property management on my duplex in a college town.  

If the property you are looking at was incorrectly assessed, an appeal may prove worthwhile (particularly if you can word the contract to include a successful appeal contingency).I have not personally gone through an appeal, but have been told it is fairly straightforward.Start here: http://www.phila.gov/OPA/Assessments/Pages/Appeals.aspx

See this article at DSNews http://dsnews.com/news/market-studies/01-10-2013/a...So let's say your marketing includes free and clear houses.

@Justin Green   When my dad taught me the bizz at 10 then I had to get a real job at 15 and bag groceries then my dad said stay home for 2 months study get your RE license..

(Please prove me wrong.)

East side homes proved challenging for me because of the age  OIL tanks etc ..

For example, you may study your local market, develop some insights, and spend 20 minutes to format and present those thoughts in a nice little blog post.  

Would I have to wait a certain amount of time to prove positive income on this house's cash flow?

If you can prove it undeniably, you stand a good chance of holding up on the exchange tax savings.