Move in to rental property?

[Soomin Kim]

Hi,

Husband and I own 1 bd condo and have water leaking issue. We want to move to bigger place and rent out current condo. But I am not sure when this water issue will be fixed. Management is working on it but not sure of timeline. So my plan is to buy bigger place and rent it out for a few years and once water issue is fixed, we will move to that rental property. How tax will work if the property changes from rental to primary residence? Is there anything that we need to consider(probably will buy bigger condo)? 

Any advice is greatly appreciated!!! Thank you! :)

[Soomin Kim]

Thank you @Dave Toelkes and @Ashish Acharya!