We kept and rented our primary residence for three years before selling it (and we didn't have to pay capital gains taxes).Thanks!

You have to compare numbers, capital gains is substantial after 8 years. 

I’m here to connect with like-minded individuals, gain insights from others, and contribute value wherever I can in the real estate field.

What would you save in captial gains on the $360k if you sold now?

Play dumb, ask questions, and try to gain as much info as possible before choosing a contractor. 

Managing a property hours away can be challenging if any issues arise, but having a third-party property management company could help handle those situations and make things more manageable.I think you are in the right place to gain some insight on what would make you successful. 

This deal proved to be the perfect balance of financial gain and personal enjoyment.

Check out the rookie podcast forum, you will gain a lot from it. 

I would imagine the LLC will have its own EIN, but we will still report the gain/loss as pass-through income on our joint tax return.

I have nothing to gain other than to feel good in giving back to interested investors.