When these young people get married and have kids, will they still want to live in a city that sis becoming more dangerous, more dirty, with housing that is more rundown, with fewer new apartments being built?

My interest rate for this current property is too low to refinance and pull out money and it will take me a solid year with my current financial situation to save upwards of 10k or more (I am getting married next year which is a key factor in not being able to save more than I would like to towards real estate).

(ordinary income or capital gains)5) To eliminate $500k (married couple) of Capital gains, does the 2 or 5 years start once the house is completed or once I purchase the land?

Because we can't put our heads together to decided whether or not to pay off our credit card debt, first.When I was married to my 2nd wife, I went to a shrink with her no less than 2 times every week for every 18 years. 

This makes a huge aspect of your decision.My first property in Philly was my primary which I changed to investment after I got married.

@Paul Sandhu if you weren’t married I’d apply to be your housekeeper

In many scenarios, an owner-occupied will have a $250,000 capital gains exception or $500,000 as a married couple available.3.

I got in contact with a local CPA and they let me know that the limit is actually $30k between a married couple and they would not have to file for a "Gift Tax" since the amount I borrowed was less than that.  

I lived in the area for 10 years before I married my husband and moved to Ohio, so I know the draws and drawbacks of the area.

I'm not sure I'd be ready to get married, and that's essentially what you're proposing here.