Love some advice on taxation!

[Nathan Hood]

Hello all,

I am a chef that bought a live and flip to get my foot in the door with real estate.  I bought a foreclosure and fixed it up my self and added a bed room and bathroom on to the house.  The restaurant I was running shut down due to the pandemic so obviously making the mortgage is something I am now concerned about since the f&B industry is going to take a while to bounce back to where it was.  I was planning on living in the property for at least 2 years because I have two kids and its in a great school district and wanted to avoid heavy tax.  We are now feeling selling and getting out of it now would be our best option since my family can move into an extra space from other family members at a much lower cost and the pandemic is far from over. I am on unemployment since this whole thing has happened as well. SO the question is is there any tax exemptions for a unforeseeable event such as a pandemic?  Would love some input and if there are any professionals out there reading this I would love to know what my options are!

thank all of you for your time and stay safe!

Nathan