I'm reading The Book On Managing Rental Properties and came across this in the chapter on Fair Housing under exemptions:"3.

Using your example you would Get to take the 121 exemption on 2/5ths of the gain (qualified use as primary residence) and you would pay the tax on 3/5ths (the time of unqualified use as a rental). 

If you make money and it’s not in a tax exempt account like a Roth IRA or HSA etc you have to pay taxes. 

Having some asset (like medical offices) “back your investment” is a little different than wanting to be a silent partner in the local dry cleaning or boutique smoothie joint.

GA has a weak homestead exemption and we have a lot of equity in home, no mortgage ie: no due on sale clause.

We will make 80k-100k profit off the house.I'm not very knowledgeable with tax information but if we sell the house post 5/20/18, is there any reason I couldn't claim the capital gains exemption?

With a potential career in medical devices (interning at Stryker this summer) I want to be strategic about my real estate investing when I start working full-time in January.

@Brian Garrett So I can pull ONLY my cash invested out if I elect to do the delayed financing exemption but can possibly pull my cash invested + some if I wait the seasoning period and then do a cash-out refinance? 

That’s like saying which profession has more success a dentist or a medical dr? 

The area is located close the the Medical Center and Stadium.