Or maybe you can partner with someone to borrow $10,000 today to make the repairs and pay them back $12,000 in one year (20% interest).You also need to really crunch the numbers.

You don't make enough to pay lawyers, fines or anything else from your cash flow. 

Are they a good tenant and paying rent?

Whether the property is $4k or $40k, you are still paying $5k to me to sell it.It should be obvious to you why this is, but it looks like it's not.

If so, self managing might be a good fit for you.I'm more of a "path of least resistance" person, so if I can pay someone else to do it, I usually will. 

Remember that the investor-friendly realtors listed on here just pay to be there.

My question is, does the fact that we rented the home exclude us from being eligible on not paying taxes on the first $500k proceeds from selling after two years?

Hi everyone, Quick background, I'm a real estate investor with a high paying W2 job and credit score around 780.

Recommend requesting the seller’s existing ALTA Survey, building plans & floor plans, site map, seller’s prior Phase 1 & environmental reports (easy for them to ask lender for copy), full rent roll detail (including renovated/classic unit indications by unit, sqfts, building #’s, full detail), aged receivables report (will allow you to identify hidden delinquency / bad debt yet to be reflected in T12’s), general ledgers / capex ledgers back at least 3 years to ID major capital projects or damage that wasn’t disclosed initially.

If it is cheaper to own, you may want to buy and even if you sell in 2 years (assuming the development is finished on time), you may still come out ahead in terms of selling the property vs paying someone else's mortgage.