Can I set the rent at 2% of acquisition costs and have it be realistic/competitive in my area?

The lesson here is anything can be sold as an advantage.

My plan is to take advantage of this real estate opportunity to both buy a larger property and hold onto my current home on as a rental.I have a fixed 30 yr @ 5.85 on my property that is worth about 555k.

It might be a tenant who is a professional at taking advantage of landlords.

By living in your property for over 2 years there are very serious tax advantages for you.The only prblem with your plan is that you get income only once every 3 years.

(no pun intended) I mean, would anyone be able to "spin" this dilemma as an advantage or even irrelevant?

There are many unscrupulous people who would love to take advantage of a new investor (not on this site of course!).

Advantages/disadvantages?

The listing agent won't represent you (most likely) and if you don't understand the process, you will likely get taken advantage of until you do.2.

I am in a 3 month program to kick start my business with a very successful local investor and he has provided us with a lot of his materials he used while wholesaling and I know him personally and it worked for him so I am NOT trying to re-invent the wheel but I know my competition in they area and they are respected, honest and have been in this business longer - although they tend to rehab their projects but one of my targets is the motivated homeowner and its theirs too!