To qualify for ANY tax exclusion under IRC section 121, the taxpayer must convert to principal residence use hand hold for an additional three years (so the holding period is no shorter than five years).

I am an agent in FL and I focus almost exclusively on turnkey STR properties via creative financing..

They don't do SFR and my prior PM almost exclusively managed 20-50 unit communities.

Once the 1031 exchange is completed (again assuming 1031 compliance), I can continue to rent the property indefinitely or at any point after 2 years of rental, use it as a primary residence and thereafter living in the property for at least two years qualify to use the Section 121 Exclusion to eliminate capital gains entirely (gains estimated to be about $70 K, well under the $250,000 single filing limit).

Sounds like they don't qualify for a Section 121 exemption/exclusion.

If you can live there for 2 years you could sell tax free (2/5 year primary tax exclusion).

You are also going to have only a partial exclusion of your capital gains, not the entire 250k because you used the property as an investment for some of those years.

I like to say there are many RISK in Tile and City Code, I have a property even got Condemnation to Demolishing the property, I'm so scared once I received that notice.3.FlipSystem is not providing exclusive value, because you can find the deals on Zillow yourself, find your own local Realtor and interview your own local Contractor, they just to provide their connection to you!

I'm also a Reatlor® and work almost exclusively with investor clients, so this is my area of specialty.I recently began working with Account Closed and his team because beyond just taxes, they also advise and provide valuable services such as cost segregation studies.

Exclusive Right to Sell Real Estate" contract, which is normal.