Sale vs keeping property advice

[Grace Galang]

My husband and I purchased a single family home with a ADU for 350k and spent about 100k after renovating and furnishing for short/midterm rental. Now, we want to sell it partly because a neighbor keeps calling us complaining about menial things about the property and property management. It now appraised to 575K (we've only had it less than 1 year). Could we deduct most of the 100k from tax and potentially get profit from the sale?

Appreciate any advice.

[Theresa Harris]

Block your neighbours calls.