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At a 7% annual return, this could grow to $908K after 10 years, providing immediate liquidity and diversification.Alternatively, holding the property could yield $825K net equity after taxes in 10 years, assuming a $900K sale, with the potential to defer taxes via a 1031 exchange if reinvested into another property.

I’m in the 33% tax bracket through my real job and this could be a big difference in taxes owed if we sold the property?

@Daniel MadhavapallilYou should hire a tax professional. 

Feel free to reach out to one

There are many tax accountants on Bigger Pockets that can help you with your situation. 

If your friends have a rental they should hire a tax professional. 

The contributions are lower so it takes a while to build, but once you do, it's tax-free investing. 

Your primary residence - if you've lived in it for 2 out of the 5 years prior to selling you'll get the $250K/$500K tax free iike @Clint Galliano said. 

Looking for various tax strategies to reduce the reality that a large RV or boat is a grossly depreciating assetI would not have a loan, so claiming it as a primary or secondary residence and claiming the mortgage deduction is not applicable.I sold my primary residence and I have several rental properties which I use as I'm fixing them up.What I'm pondering is living aboard and working aboard developing a new product, while traveling.