You could 1031 out of the property, purchase a new one or something you might like, "Live" there for two years and convert the property to a primary residence. 

These strategies can maximize cash flow, reduce living expenses, and generate potential returns.Good luck!

I know the 20yr city development plans, I know of the waste water treatment facilities that are wrapping up approvals and have not even broke ground yet and exactly how many w/s laterals will be approved with such. 

People always go for the cheapest financing, quit claim in to an LLC and go about their lives, when they've essentially done nothing to protect their personal assets. 

Leather is a good option and it does get a lived in look after a while which can be either a plus or minus.

Convert the Property to a Primary Residence: If you live in the property for at least two of the five years before selling, you may qualify for the primary residence exclusion, which allows you to exclude up to $250,000 of capital gains ($500,000 for married couples) from taxation.4.

Not adding any additional living space, just dividing the two units, putting a kitchen in one of them, and probably not having to add a bathroom to either unit.  

Ideally avoiding capital gains tax, we've owned it for more than 5 yrs & lived there the whole time.  

My current salary supports my family comfortably (given that we live well below our means).

If anyone has any advice or tips that would be great, I'm new to real estate investing and live in an expensive area, and wanted to invest out of state.