We have a preferred lender who studied the past election years and noticed the effect, but due to the pandemic and the normalizing of our market, can we expect there to be a surge come Jan 1 with the election being over and interest rates stepping down to affordable rates? 

I strongly suggest engaging the services of a consultant or advisor to assist you with this matter.

But did you know that if your rental was placed into service before 2022 that you can still recapture the tax benefits of 100% bonus depreciation if you do a cost segregation study?

I'm not an attorney, so you should find one that can assist you in making sure you're completely covered in the even that you need to foreclose.

Hi Tekoa, I'd be happy to assist you and answer any questions.

While not in TN specifically, I have assisted clients do as you have described: live in a property as a principal residence for 2 years, rent it out for 3 years, then sell.Based on the situation described, you would appear to be eligible for the MFJ joint exclusion on principle residence on your 90% share.However, in order to retain that ability, the house will very likely need to be sold (ie, sale closed, not just under contract) by the end of this month. 

Happy to assist where I can.

Buy another property.I can assist with financing options on either route, let me know if you'd like more details!

They don’t sell off their mortgages so I will always have a local connection in case I need assistance with the loan or any other aspect of my business.

Focus on getting to know local, experienced Realtors in your town & offer to assist them for free so that you learn.