Your primary residence - if you've lived in it for 2 out of the 5 years prior to selling you'll get the $250K/$500K tax free iike @Clint Galliano said. 

Not saying anything about selling or not.  

I am just out side of Elkhorn, WI and selling our property the is 5 blocks from the lake.

Selling and move on.  

At that time I will get the house cleaned up and list it on the market and when it sells I've agreed to get reimbursed my costs for reinstatement plus any other costs plus a fee for my efforts.

.:  Are you talking about creating a first 50% of the note and a second for 50% of the Note and sell the first one? 

FWIW, I would sell the Houston primary for sure.

I am now working with a realtor and she is saying we could sell it around $380k.

We're open to all strategies, buying, selling, renting, etc.

Also, if you have a below market interest note, if you wanted to sell that note for any reason in the future for liquidity you would be affecting the value of that note negatively.