As already mentioned, you could sell via seller financing to lower AGI, as all you would have to claim is the payment income - until balloon payment received.Did know an investor that had 14 properties paid off and he moved into one every two years to then sell with the $250k single exemption.

AT MOST you rent it out for 2 years and then sell it but honestly you’re probably better off just selling it.Assuming zero vacancy and zero capex you’re going to make about $12k/yr.

I have a seller who wants to sell a house that is worth roughly $830K. 

It’s when homeowners who locked in ultra-low mortgage rates during the pandemic hesitate to sell because moving would mean trading up to much higher rates.

This deal came along and I have an opportunity to cash flow $3k a month When converted to a fourplex and it has a non attached garage that I could turn into an ADU which would add to the cash flow.im just hoping to get out of the hard money loan and lower my payments and rate if possible so my rents can cover mortgage.I have an air bnb rental that I have a very nice chunk of equity in but won’t be able to sell it til spring.

For example, you might choose to take a blanket mortgage covering all properties, BUT perhaps the market softens and later you wish to sell a property.

If you’re in the Detroit area and looking to buy, sell, or simply connect, I’d love to chat!

So you would need to refinance, payoff or sell before the maturity date. 

How do you approach an owner when asking them to sell their property?

I'm hoping to add this as a start to my portfolio, rent and eventually sell once the wife, and I are closer to retirement age.