If this works, it will be a nice way to get quick equity to refi out of FHA and get rid of PMI 

Often they have so much work they drop your home flip and go the next smaller job and then come back.In most cases you are the general contractor coordinate different tasks and heavily involved on a daily basis to see it gets completed. 

Which seemed to be a nice way to do it but we had a lot of our own money tied up in it.I have approached different lenders/ or hard money people and they seem to be all over the board.

The reason for the low price points and high cash flow on paper is because they are riskier investments than buying in a nice area.  

I had a very nice couple with a young daughter come look at my nicest rental home (4,300sq ft with $2,800 rent).  

The gain exclusion would be nice but you may subject yourself to market risk.

I will be coming from the standpoint of investing while working a full-time job, at least for the next 5-6 years.

The State of Florida wants any person who does work on houses, to have a Permit and a LIcense for each JOB he does.

@Dylan Tettemer going from any job (active duty or otherwise) into full time real estate is extremely challenging.

I currently have a Full-time job and I'm looking to buy my first home, want to do a "live-in flip" of sorts.