Then the exit is a rental, rent to own or lease w ROFR.I like mild rehabs and do a Joint Venture with the seller.  

Sounds obvious, but even if you've worked with someone successfully before, they can have a plan to use your joint business as a launchpad for something else without your knowledge or consent.

There is always the option of a joint venture with someone experienced.

It will be a joint and several lease. 

I consider 30,000 a minor rehabI often do joint ventures with the seller on a minor rehabInvestorr offer .7 x190 = 133k30 In repairs 133 - 30 = 103k net to seller from Webuyhouses guys------------JV with seller19k costs to sell commissions closing costs wiggle room30k rehab loan Priv lender3k interest------52k costs10k jv fee62,000 total------62 k + 190k = 148k note to seller after the house is fixed listed and resold, no payments for moratorium on private loan for 4 monthsYou make $10,000 without doing Hard moneySeller nets more money....Like 40,000 more

Is the owner in a position to do a joint venture with you, rather than a traditional flip? 

One of my favorite places is a seafood joint by the name of Landry's.

Any bit of moisture in laminate will swell the joints.

Your principal residence is the place where you (and your spouse if you're filing jointly and claiming the $500,000 exclusion for couples) live.You don't have to spend every minute in your home for it to be your principal residence.

We purchased this year a 4 bedroom rental  property in Narragansett and used Rhode Island joint Reinsurance Association as insurance company.