Would AirBnB jeopardize my capital gains tax exemption?

[Grayson Graham]

Im currently 6 months into a live in flip and Im having trouble making the mortgage payments on the home with my income alone. We get a bit of tourism in Bend Oregon and Im in a nice part of town across from a big park, so I think there may be a good opportunity to do vacation rentals. Although the CC&Rs of the neighborhood prohibit short term rentals, there is an exemption for renting out individual rooms. So, I am considering converting my guest bedroom to an AirBnB with the guests sharing my personal living room and kitchen.

My concern is that if I rent out the guest bedroom then I wont be able to claim the homeowners capitol gains exemption when I sell in approximately 18 months. I imagine that I may only get a partial exemption similar to if I were living in half of a duplex, is this the case? Any advice would be appreciated, thank you for taking the time to help!