Buying a new primary residence has nothing to do with the capital gains exclusion.It is when you go to sell the new house down the line you'll run into a problem.

Hi Linda,Lots of great advice from @Carla Gordon @Brian Schroeder @Jay Thomas Specifically I think it's always smart to check out FF Traveler sear https://www.furnishedfinder.com/housing/New-York/New-York) and Airbnb/VRBO for 30+ days stays to gauge what sort of similar properties are currently out there!

There are definitely risks that will be completely outside of the auction house.

My electrician insisted in rewiring my house without ripping out the existing drywall.

So the the value of the house is $260/SF but the seller is trying to sell it at S$296/SF because of the furniture.

I'm thinking of buying this as a rental, renting out the house and fencing the back part and renew a lease to rent it separately.

Borrowers like that.Since money is the lifeblood of all house flips, I consider this a win-win for everyone.

These special assessment were thousands of dollars, and there was no sufficient reserves from the monthly fees to cover these large biggers, so the owner were required to cover the shortfalls out of pocket, what a great way to ruin your cash flow and ROI.There are benifits to condos, including tennis courts, playground, swimming pools, club houses, and fitness facilities. 

Letting Go for Your Bottom Line: A Lesson for Real Estate InvestorsHey BiggerPockets Community,If you’re a real estate investor, whether you own rental properties, flip houses, or manage syndications, there’s a critical lesson that could boost your bottom line: Letting Go.Many of us get into real estate because we want control over our financial future.

Are you looking to house hack?