Selling rental property

[Olga Abreu]

Hi, i purchased a two family house in Queens NY in 1987 for 260,000

even thought the house should be paid for, i took another mortgage and i still owe 250,000, the house is worth 950,000 now

i lived in the house for 7 years and i have been renting it up to now

i am in a bad economic situation and it is almost time for me to retire, i would like to sell the house but if i do i have to pay a lot in taxes

i am planning to move back to the house for two years so that i wont pay so much

Please any advice you can give me will be really appreciated.

Olgui