Also, since we lived in it as our personal residence, we only have about 1 more year that we could sell it and take the exemption to not have to pay capital gains. 

Most people get into MTRs with the intention of renting to traveling medical professionals but they’re only a small sliver of the MTR market.

The laws haven't changed since 1997- and your personal home 'tax exemption' may be over the limits, due to years of appreciation in the real estate market.

I’d be interested in finding out if the OP is raising money through a Reg D offering, relying on the general exemption for private offerings, or just raising capital and not caring about SEC compliance? 

Yeah..ok...And all teachers should have kids first...All doctors should have lots of medical issues before they can practice....All dentists should have lot of dental issues before they can practice...Every waiter should owner a restaurant before they can wait tables....Every car salesman should have bought multiple new cars before selling any....I get your point..... it would be great if every realtor had to have real life home ownership under their belt, so they have that BTDT experience..... but not gonna happen

As  newcomer to real estate, my partner, Calvin Brault, and I, currently are working in the medical field at various hospitals nationwide.

This is the main disadvantage of owning the property at the personal levelForeign investors are generally subject to an estate tax rate of up to 40% on the property’s value above the allowed exemption of $60,000.

Think medical, hospital without insurance for a month, just as a possible example.I make money when deals close.

This exemption can substantially reduce or even eliminate your capital gains tax obligation, depending on the profit you realize from the sale.

To qualify for the exemption it needs to be a “personal” residence.