Our agent who is listing our home for sale lives 2.5 hours away so we would need someone else to show us the land if we determined it met our requirements. 

I understand that there are some requirements aren't a legal necessity to obtain, but would look better for future LPs.

If you're going to be required to do DSCR I'd try to stay above $100k.

I've always heard skeptic caution about properties at these price points because they come with a difficult tenant pool which then requires much more intensive property management and capex.1.

The ownership and use periods do not need to be consecutive.Exceptions to the Two-Year Rule:If you're selling due to a change in employment, health reasons, or other unforeseen circumstances, you may be eligible for a reduced exclusion.In cases of unforeseen circumstances, the IRS may prorate the exclusion based on the time you spent in the home.In your situation, if you sell the property before meeting the two-year ownership and use requirement, you may not qualify for the full exclusion.

Since you hold a license you are held to different standards and requirements.

Its a trade off compared to buying something that needs work - this would require a larger up front investment for a larger cash flowIts not a good or bad strategy, its more about what is more important for you right now.

and yes I now have a prescreening message for any tenant leads so they have a clear understanding of what i require and then ask them to do a prescreening phone call for an interview if they are really interested then they can fill ip the application form etc.  

@Thuy Pham-Satrappe I manage a few in higher crime areas and it requires more active Management that some other properties.

Ask questions, get to know the renters, and document the condition of each rental so you have a record from that point forward and can hold tenants responsible for damages.Your offer to purchase should include a requirement that the Seller provide all documentation and agree to sign an estoppel certificate (also called an estoppel form or agreement).