So the $8000 buys you exclusive training, deal review and gets you into the "club."

How much is the owner occupied capital gains exclusion worth? 

Buy doing this you are creating NEW and exclusive development opportunities.It turns out your big national builders ARE NOT as flexible as the little guy.

You rent to responsible adults with good jobs.

It depends on how much of gain you are able to exclude.If the gain that you can exclude is like $50,000(Tax might be $10,000), then you might be indifferent in selling it / or keeping it.If your gain is $400,000 to $500,000, then that is a much bigger amount of tax that can be excluded and one that you wouldn't have to worry about if you did the section 121 exclusion.

Because off market is by definition not to every agent, do not commit to a duration based exclusive contract if you are interested in pursuing off market listings.  

We say that 4 adults aren't allowed.

When you sell, you may qualify for the home sale exclusion ($250K single / $500K married) if you’ve lived there at least two of the last five years, but any depreciation claimed during the rental period must be recaptured and taxed.The biggest thing you will see is something called non-qualified use.

Option - In legal language, a real estate option is an agreement that grants the party owning the option, the optionee, the exclusive, unrestricted, and irrevocable right to purchase property from the party selling the option, the optionor, during the specified period of time that the option is in effect.I'm wondering if it is possible to control a house using an option to purchase in order to renovate the property (fix and flip) without actually buying the assett with a HML. 

Keep selling and use the tax free 2 out of 5 years capital gain exclusion up to $250k per spouse.4.