Selling in under 1 year of ownership

[Katy King]

I just bought my first home July 2018, I currently live in half & have a tenant with a 1 year lease(Sept. 1, 2018-Sept. 1, 2019) in the other half. I am considering selling soon. What are my options? Do I have to own for 6 months? My income bracket is $55,000-60,000 so is up to 250k profit tax free? Bought the home for 155,000 want to resell for about 200,000/225,000. Replaced furnaces, electrical, cosmetic improvements, & added a bedroom to increase value, etc. House is 1990 sq. ft, 2 units: 2/1 & 2/1.