In addition, with market and appraisal uncertainty, I don't want to go 0/3: appraised value (lower cash out), interest rate (higher rate) and closing costs (paying more). 

You can list for sale and for lease same time, and capture the best (may the best option win).

It was about letting his kids grow up in one place, surrounded by the same friends, going to the same schools.

After that 12 months, you can move out and make it a 100% rental.Of course, you could also refi the FHA mortgage into a DSCR mortgage, but DSCR rates are higher, most have a prepayment penalty and we expect some consolidation soon in that industry which will limit future options.

Congrats on your success and going the STR route.

Quote from @Cory Hickman: If you do not have experience at all with fix and flip and this is your very first one.

These can get you on MLS to get the most eyes on the listing.Beyond the marketing, I use limited service agents because I want a go-between for the buyer and me. 

It sits in the skimmer area.

If a home is perfect for you and your family you can justify paying above retail.  

The flip side is financing: banks almost always give better rates and terms to individuals.