If you are paying attention to the waterfront, they have some projects going on and some others proposed in the area. 

Not to mention, I was oblivious to how much work the units actually needed as this was my first property and rehab project.

However, ideally if we started both with the understanding that collaborations and building the right team in conjunction for planning for our larger future and objectives we'd get to the "freedom" that we are all actually chasing via RE that much faster. 

With a ton of equity, and by all means, we are wanting to take advantage of the 500k tax exclusion if possible.There is also a probability that we will move back into this home in the future, let's say in a few years or so.

It has roughly 50k equity in it that I want to use as a down payment/full payment on a duplex in the future.

If its your maiden project, I'd be concerned about the distance from the property.

.)- CRM for your sellers, buyers, properties, team members (agents, lawyers, title, etc)- lead fallow up system with access to call recordings, email and/or sms, tracking number of touches- ability to track KPIs (key performance indicators) of a given campaign (cost/benefit analysis)- delivery system for campaigns (direct mail, ringless vmail, sms, email, cold calling)- ability to add, manage and assign staff to tasks and projects- add tasks to calendar for assigned staffasking for a friend  :^)

This is essentially giving you some of the cash from your improvement (presuming they are significant) , as well as a steady stream of income into the future - which helps you long term in numerous ways.  

Any longer than that and I'll be hesitant to do this in the future. 

While I'm relatively new to REI, I bring with me a quarter century of lessons learned in running high-performing teams, managing projects, and getting things done.