If we were to finance the cash house and then use it as the down for the other house we would then have a mortgage on 2.  

Sites like Dalmorefg.com lists some on their site as they act as the compliance broker dealer for many offerings

I am doing a rehab on a house built in 2001. 

Would you be interested in a house hack type of property?

Ensure that it complies with federal, state, and local housing laws.

I want a Smokies house, and had my eye on this going into May.

Housing stock in RI is older, look at the lead laws and see what it would take for your property to comply. 

Having done this over 10 years a good Christian family with both parents employed whom had just bought a house and was always extremely kind and courteous did not strike me as the ones to do this. 

I'm interested in working with insurance companies on housing displaced families.

Your gain / income on the sale would beSales price less cost to purchase the lane, less the cost to build the property, less improvements less costs to sell plus the depreciation taken on the property.Whether the gain is ordinary or capital will depend on whether you are classified as a dealer.