Purchasing Foreclosure How long until I can sell

[John Nisewonger]

I am a buy and hold investor.  I recently just put another contract on a property with a very nice chunk of equity in it.  Although I was initially just looking for a rental, I think I may want to sell this one in the near future to cash in and maybe use the profits to buy more investment homes.

I got a conventional loan on this property. My question is how can I benefit the most from this deal.  My initial thoughts were to rent the property out with option to buy after a year period.  Hopefully I would find a renter that was interested in purchasing the property.

I have read a lot about a 2 year rule to avoid capital gains.  Is that for investment properties as well?  Everything I read was about your primary residence.

Maybe I should do a 2 year lease with option to buy then?

Just seeing if anyone else has experienced anything like I am.  Thanks for the replies you all always seem to come through!  I am in Virginia if that matters.