Exit strategy on SFH

[Trey Read]

Looking for a RE meet-up in Central Ohio!

Looking to offer my help, to network and to gain knowledge

Not looking for a Guru sales pitch! 

I've signed up for a CORRE meet-up, does anyone have any reviews on this particular club?

[Dave Foster]

@Trey Read, your best way to avoid tax on the gain from the property is to not avoid property tax.  If you are only selling after a year so you can avoid property tax that may be a little short sighted.  If you stay in that house for one more year it would be tax free by virtue of the sec 121 primary residence exclusion.  

If you're ball parking your gain at $75K ish then capital gains would probably be 20.3% or more than $15K.

I can't imagine that property tax on that property for the extra year would come close to the $15K you'd save staying there - not to mention the lift that the roomates are providing.

If you're anxious to get on to the next one then take out a refi and construction loan for a second property.  Begin it so that it is done when the 2 year mark is met on the first one.  Sell the first one, take the profit tax free and move into the next one beginning a new two year calendar on another tax free sale.