Prior Theories: It could be turned commercial (no)A residence could be built there (no)They bought it to sell to me at a profit because I am the only one who cares about this.

Long answer - it's complicated.For 2024 you have a personal residence with room hacking.

I'm an out of state investor, therefore when I speak to some local credit union they request I reside in the area to obtain membership. 

Convert the Property to a Primary Residence: If you live in the property for at least two of the five years before selling, you may qualify for the primary residence exclusion, which allows you to exclude up to $250,000 of capital gains ($500,000 for married couples) from taxation.4.

State websites will have it in their revised codes.Look at Sutton, MA (and the county it resides) to see if anything else is on top of this.

The recalibration of reserve studies to account for these increases is inevitable, and unfortunately, this will likely lead to higher dues or special assessments, which can hit both residents on fixed incomes and investors hard.

Investment Info:Single-family residence wholesale investment.

Investment Info:Single-family residence buy & hold investment. 4 bed / 4 bath, 3500 sq ft

If the property appraises for $500,000, you would only be able to cash out $375,000.Would this still be true as a primary residence or would we be able to find something like 5-10% down on a 30 yr loan?

Is it realistic to pass material participation test if the property located far from primary residence, like vacation rental?