This would allow you to exclude up to $500,000 in capital gains as a married couple filing jointly, or $250,000 if filing individually.Since your brother-in-law owns 10%, that portion of the sale might not qualify for the exclusion, and you'd need to discuss the tax impact with him.This post does not create a CPA-Client relationship.

For properties that size I'm not sure cap rates will give the best story, but for the sake of answering the question, cap rates are a level of desirability in that sub market. 

I’ve been investing in the Tampa market for over 20 years, and in just the past year, I've bid on several mid-size apartment buildings and at least a dozen duplexes.

@Jagjit Singh Welcome to BPFirst you might mention what size multi family you are talking about.

Is this is a size thing (company just needs to get bigger/have more equity), or perhaps a business structure issue, or should I be looking at different financing sources other than local banks?

BUT if only a portion of the parcel sold, or more than one parcel sold, you'll need to ask the assessor to tell you if a new property id will be assigned.

@Armando Carrera research and develop your own typical tenant qualifications so you don’t accidentally violate fair housing, landlord/tenant or local laws on occupancy limits based on bedroom quantity/size required for kids, number of unrelated persons in one house, etc.

Believe it or not, there are many programs for which the tenants do not have a portion to pay. 

If you are looking for a place where your portion of the mortgage + property tax is close to what you are currently paying for rent, you can look into multiplex over at SF, Daly City, Redwood City, and San Bruno.Feel free to reach out if you need any help :)

Upon move out and receiving a portion of the security deposit, we were charged an over $400 cleaning fee in addition to some normal wear and tear items because they exceeded the apartments self calculated normal wear and tear allowance.