Selling 2 Duplexes - Capital Gains

[Sarah Miller]

Hi!! I am currently selling 2 duplexes in NE Ohio. (BOTH POSTED IN MARKETPLACE) Both are money makers (Net around $500/mo cash flow after PITI and expenses). The only reason I am selling is to pay off student loans. I am also downsizing personally and changing my lifestyle. My question is, one of my properties I will be making a large profit from my base. Is there a way to lessen the blow of capital gains tax I will pay on that? I am not re-investing the money, I am using it to pay off student loans. From my research I have found that this is not likely but didn't know if there were some creative geniuses on BP!!

Secondly, I do plan on getting back into REI once my student loan debt is gone. I have an LLC established currently, do I close it in the meantime? Or is it better to just leave it out there for when I start up again?