If you live in the home for 2 out of the past 5 years and move out of state you may be exempt from the tax.  

You will want to fully understand the tax reporting burden you will face. 

I'm talking about tax season! 

I’m in the 33% tax bracket through my real job and this could be a big difference in taxes owed if we sold the property?

The absolute best way to avoid taxes is not earn income.  

Did you have to refund the guest the cleaning fee?

At a 7% annual return, this could grow to $908K after 10 years, providing immediate liquidity and diversification.Alternatively, holding the property could yield $825K net equity after taxes in 10 years, assuming a $900K sale, with the potential to defer taxes via a 1031 exchange if reinvested into another property.

Oversimplifying it just a bit, the investor profits from:- a non-refundable option paid by the tenant-buyer which gives them the right to purchase the property within their option period- the spread between the rent paid by the investor to the property owner and the rent paid to the investor by the tenant-buyer over the life of the option- the spread between the price ultimately paid by the investor when they exercise their option with the owner and the price ultimately paid by the tenant-buyer when they exercise their option with the investorClear as mud?

Home went to tax sale county kept excess proceeds.

This is a screenshot from a private Facebook group for tax professionals.