That is the capital gains exclusion for selling your primary residence.If you live in your house for 2 of the last 5 years you get a capital gains exclusion up to $250K if single, $500K if married.

@Aline Elad You said "we" so assuming you're married you can exclude up to $500k, or $250k single, in capitals gains if you lived in the property for 2/5 prior years. 

I am married to a successful interior designer who serves luxury clients but can work with me to make rental properties look great for half the cost with her knowledge of what makes the most impact.

After the friends moved on with their lives, got married and bought places of their own etc. 

One individual needs to make the final decisions.Dispute Resolution: Define and agree on a method for resolving disputes that may arise, such as mediation or arbitration, to avoid litigation.Change in Marital Status: What happens to the ownership if a party gets married or divorced?

We are not legally married yet .

Some how mistakenly injested rat poison.Unless you were married to her you really had nothing to worry about.

I'm guessing you haven't been married?

Lenders would most likely approve something like this for a military/veteran married couple or a syndicate with contracts in place.

This wasn't the case for the guys who were married.