Essentially a flip and partnering on the deal with someone that will qualify for financing.

Houses are priced similarly, typically a bit cheaper, however the interior is practically new.Thoughts?

I will be house hacking it for a year or so but want to know if I can essentially turn the property into an LLC at all or after the year mandated is up?

Typically to valuate land I look at previous sales, and active listings of similar land.

Some banks require 6 months before you can lease or refinance- so you have to live there essentially as a primary residence for 6 months.

How long do you typically hold on to good cash flowing properties before exiting?

Typically, owners are responsible for everything AFTER the meter. 

We'd draw up a loan agreement and everything but it'd save a lot of time and hassle since I'm essentially the one approving the loan to myself. 

Fsbos typically have a hars time appraising regardless of price, so expect a low appraisal and have a plan to deal with it 

Discuss who makes repairs during option period- typically buyer.It works if the buyer can legitimately qualify- dont take someones deposit if they think they can qualify in a year... but you know they wont be able to.