2 out of 5 year Capital Gains Help

[Wojciech Grajewski]

Hello,

I purchased a home with VA mortgage in July 2016. From July 2016 to April 2017 I did not live in the property (it was livable but I decided against it) because I was doing a whole home renovation. From April 2017 till now I have been stationed in Europe with US Army as a civilian contractor. My questions are as follows:

Should I rent the home out? I would be making very good profit BUT I'm afraid I would have to renovate the house since I renovated it with high end finishes (I thought I would live there).

Should I sell it? I would make $250K profit assuming I do not have to pay capital gains tax. 

I might qualify for the capital gains tax exclusion but still end up paying a lot of money in taxes.

Also, I have a very good paying job which I would not want to leave until my business is up and running which could take at least 1 year. 

Any opinions on this situation would be greatly appreciated it. 

[Mike Dymski]

Sell and repeat.  Congrats on the big profit (tax free).