It is tax free in the sense that you will not owe taxes today on the cash-out.

Hi all, my name is Grace and I want to get into real estate! I would love to buy a triplex at the end of the year. I do not have the capital right now to do so but if i sold my business then i would! 
Should i sell m...

Joint tax return?  

Just a heads up this will not be tax free, it will be a pro-rated exclusion.

Over the past 10 years, he and his late wife poured their hearts into building this home (with permits, of course).

A cost segregation study was performed on this apartment building in Knoxville, TN with a depreciable cost basis of $17,323,250.

I have seen it too many times where an investor will buy an older property or even a new build, they net cashflow similar to you for a year ($100-$200 per month) and then a $5,000 repair or insurance/tax hike here hits them and it's a loss - they either get forced to sell or are majorly setback and unmotivated. 

If you live there 2 years or more before selling you will be exempt from tax on the 1st $250k in profit which is a nice bonus. 

Trust and reputation builds and deals just flow from that...

Rules vary significantly, and you need to be aware of licensing, taxes, and any restrictions.Local Market: Analyze the STR market in your target area.