@Alberto VazquezShouldn't matter for FHA.  1-4 Unit primary residences...

Purchase price: $130,000 Primary residence bought with immediate equity due to the repairs and cosmetics being out of date.

Purchase price: $130,000 Primary residence bought with immediate equity due to needing a host of repairs, smelling bad, and the cosmetics being out of date.

Especially if you don’t have a primary residence yet.  

Live-in-flips also interest me as a method to turn my primary residences into investments. 

Since you "house hacked" that property until last year one half of that property would still qualify for the primary residence exemption. 

Matt, we got earthquake insurance for our primary residence and ADU - costing us about 6K a year I believe

Are you planning to keep your current primary as a rental, or sell it?

Because it is your primary if you meet the 2 year residency requirements the first $250K of profit is tax free as you alluded to. 

After one year of primary residence, if i have to move and put a tenant in place how long do i have before the rent roll will offset debt for another loan or how quickly could i get a loan for a another fha property