My tax person says I can deduct a % of the repairs I've done based on the SQ Footage of the basement unit.

For example The investors from CA that I work with like the Reno, NV area because of the close proximity to CA, tech investments, low property taxes, and landlord friendly.

You can also write it off as a business expense and there could be additional tax benefits for energy efficient home improvements.  

From a tax perspective, there typically isn’t a significant advantage.

My brother and I made it through a 6 month live-in flip and put $10k into my checking account tax free. 

Keep and eye on the American Families Tax Relief Act. 

My question is, do I qualify as having lived in the house for this time, to get around the 2 out of 5 years capital gains tax rule?

Before a walkthrough and before signing a contract is it appropriate to ask the seller of a small multi family for:1.Rent Roll2.Property Tax Bills3.Utility Bills (last 12 months) (landlord pays all utilities)4.Income & Expense Statements (summary)5.Lease Agreements (Sample or Overview)6.Recent Maintenance Records (summary)7.Capital Improvements Summary

There are also tax benefits you would lose such as being able to write off the interest portion of your mortgage loans.

With that comes drastically different employees and consequently housing needs but still good for the city's tax base and economy more generally.