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Updated about 1 year ago, 12/10/2023
Analysis of home in miami
In 2014, I bought a single-family home in Miami with an ADU. We moved out in 2022 and are renting the home on a long-term lease and renting the ADU on short and midterm the Home currently cash flows net of all expenses around $8000 a year and the home currently has around $400,000 in equity. The house has a loan at 3.25 fixed 30 year loan.
Am I better off selling it and buying something else. Do I still get tax savings since I lived in it from 2014-2021?