Would definitely second what @Neil Henderson said about confirming everything with a lender before pulling the trigger!  

@Peter SchaferFYI:  if you sold it off as a flip, the profit would be ordinary income taxed at your marginal rate subject to self employment tax.Yes, by keeping it as a long term rental, you don’t trigger really any taxes since you’d have to sell first.I see.  

Thanks guys, I’m Thinking to pull the trigger on 2.875% refi from 4.5% with 2.47 points.

Since the law doesn't specify exactly how to maintain the standard (but does say you must) I recommend a Post Compliance Assessment Determination (PCAD) every 5 years or so to CYA.

Yall could spend months looking for the right opportunity to BRRR and never end up pulling the trigger. 

Sometimes you just need to pull the trigger and learn as it comes.

Keep in mind that if they buyer (borrower) decides to pay you off early it will trigger the deferred taxable gain.  

Is it possible to buy a home under your name and transfer it to an LLC without triggering the “due-on-sale” clause?

My biggest question however is: when will I know it’s right to pull the trigger on a property?

@Joe Splitrock, as far as we can tell 1031s of any type are not an audit trigger.