And would this be considered "capital gains" since it's re-sold under 1-year therefore having to pay a large % of tax on the profit?

I'm in the information gathering stage so any and all insight is greatly appreciated.

. • Documentaries: Check out The Queen of Versailles for insights into the challenges of hotel investments. • Podcasts: The BiggerPockets Commercial Real Estate Podcast has episodes on niche asset classes, including hotels. 

If you have lived in it for 2 yrs I would suggest renting it for 2 - 3 years and then selling it to avoid capital gains taxes. 

Thank you so much for your insight, I will look at the BP book catalog and read through them!

I most definitely will follow pursuit, thank you for the insight and advice. 

I wanted to share some key insights from Rentometer’s analysis of over 5 million rental searches in 2024.

Hi Samuel,Thanks so much for your insight! 

This is really insightful.  

We lived in the property for 2 years and rented for 2 years to tenants, so by selling now, we ensured that we could avoid capital gains taxes.