If you convert a main home to a rental,  you do not get the full $500k exclusion.

He was freaking out because they rejected his crypto downpayment and he could not close.When dealing with banks and the government, best to convert to cash 60 days in advance.

But as of today, I am strongly considering converting it into a single-family rental because based on some Zillow comps I’ve seen I could get upwards of $8000.00 per month which is more than double my mortgage, taxes and operating expenses.

Conventional 5% Down Loan (Owner-Occupied)If you live in the property for at least one year, you can use a primary residence loan with as little as 5% down.After a year, you can convert it to a short-term rental (STR).Loan types: Conventional (Fannie Mae, Freddie Mac)2.

Look for cheaper waste ground with trees, ditches which can be converted to ponds, sloped ground for walkout basements, views.  

This defers capital gains and depreciation recapture taxes on the sale of your fourplex.After converting it into your primary residence, you may qualify for the primary residence capital gains exclusion ($250K single/$500K married), but only for appreciation after the conversion; gains from the rental period remain taxable.

I've had direct mail, or cold calling get me closer to deals, but nothing converted yet.  

The plan is to transition into a new home in 2025 or 2026 while converting this property into a long-term rental.

Quote from @Jaycee Greene: Financially, I'd only do it if you could convert to a 3x1 AND get at least 50% higher rent.I dont see getting 50% more.

I am going to talk to my CPA and see if I can convert.