Being a CA resident you could be looking at a 30% tax (welcome to the 2nd highest tax in the world behind Denmark). 

However, if it were my own residence I might change up the location a bit.

And since we refer a lot of the work to these smaller contractors, we can figure out a solution for any issues or additional scope of work that pop up.I would try to find a good GC that already worked on several projects with a fellow investor that you trust.

Unless I'm mistaken...and I'm no CPA since it is your primary residence you would not pay taxes on the sale. 

I am buying a 1950s era small church with residence attached In Belvidere New Jersey, and it needs a lot of work.

Hi,I am a permanent resident of US planning to invest into 506C offerings.

Sec 121 is for your primary residence. 

I grew up in the Bellevue area and if you are willing to live right outside the city limits, there are other areas that can work well for both rental homes and or a primary residence.

I would be interested to see if there's room for added value in finding an underperforming turnkey asset, reducing expenses, pushing rents, improving move-out damage collection, and collecting on other expenses incurred by residents such as utilities, waste-removal, pest control, etc.

I currently own 5 properties as belowCurrent residence: Bought for $637K, downpayment made-126K, current mortgage balance - 500KInvestment Property1: Bought for 175K, downpayment made - 65K, current mortgage balance - 105K, net rental cash per month after PITI+HOA fee payment = $445Investment Property2: Bought for 209K, downpayment made - 72K, current mortgage balance - 124K, net rental cash per month after PITI+HOA fee payment = $436Investment Property3: Bought for 217K, downpayment made - 70K, current mortgage balance - 0, net rental cash per month after PITI+HOA fee payment = $1137Investment Property4: Bought for 455K, downpayment made - 90K, current mortgage balance - 253K, net rental cash per month after PITI+HOA fee payment = $287I also have investments in ETFs worth around 250K.