I own many rentals, and although I am a young 53, I am training a kid to take over for an equity share by the time I am 60.  

But he did take a loss that set his family back quite a bit, caused a lot of stress in his marriage, prevented them from being able to buy the new home his wife wanted with the right number of bedrooms for his kids, set him back years in saving for retirement and buying investment properties that could have made him money instead of losing money, etc.

I think we will see more "adult" families living together...kids move back in or parents move in with kids.The traditional apartment model was based on 12month leases, but jobs are not always 12 months and people want flexible terms, so co-living often offers that.Seems like younger people between 20-30 and some other age groups don't want to get married and start that housing pathway our parents and grandparents took.   

Now it's primarily young families with kids. 

Families with two teens (or tweens) can get one room and their kids don't have to share a bed. 

If so, they can sell within 2 years and not pay capital gains taxes on the sell of the home.They could take that money and buy multiple rental homes in other areas if they wanted, or use the money to downsize in to a different home while still having money left over.

With 100-120K left over after paying debt and selling costs that should give you enough to reinvest.

I allow 2 people per bedroom with 2 king beds (further pushing my guests without kids).  

Some states have a legal process for left over belongings, post eviction.

Does that mean if i choose a single member LLC (not list spouse and kids) i wont be eligible for FONCE exemption ?