The guys that rehab a substantial number of units continually have their own subs that work exclusively or semi exclusively for them.

They are thinking to move back in to get some exclusion, so 9 rental/20 total ownership years is 45% non qualifying use.

@Joe Gracyalny what @Russell Brazil said is exactly how we do our buisness as a flipper however if you have already been using an agent I would quickly check if you signed an exclusive agreement with that agent. 

I too was getting similar returns as you when exclusively fix n flipping. 

Dear Bigger Pockets community.I am hoping a holiday season is treating you well.

In the spirit of the holiday I would probably offer to compensate them for it after they told me what it was worth, but if it was anything more than $50 I would make them prove the value independently before I gave them anything else, and if it was significant and my contract with the company didn't waive them of damages, I would file against the company's insurance. 

We've submitted paper work to the bank but haven't received pre-approval yet, due to holidays. 

@Sanjay Aiyar, Youre absolutely right about the application of sec 121 and the primary residence exclusion for them.  

Back in the days when I started investing in real estate, I practically invested in condos exclusively.

With M2M, your tenant can end the lease anytime (with 30 day notice) - good luck and have fun renting out an apartment around the holidays.