Next Steps After First House Hack

[Corey Perkins]

Hey everyone! 16 months ago I bought my first property. It was with my money and my mom's credit as a co-signer. Purchased for $190k in Middle Tennessee and now worth around $270k. I've lived in one bedroom (sun room) and rented out the other 3 to teammates on my college baseball team. I'm 23 now and in my last year of baseball, so considering selling late summer/early fall. Bring in $1,227/month for rent and my mortgage is $1,097. I have a free place to live with my parents if I do decide to sell.

What are my options going forward and what are your opinions on those options? Many of y'all have a wealth of experience and knowledge, and I would greatly appreciate your feedback. Also, I avoid short term capital gains tax after living in the property for 2 years, correct? 

Thank you!