Even then, the IRS may scrutinize the transaction if it appears the intent was to immediately convert the property into a personal residence.Additionally, if you eventually sell the property after converting it to a primary residence, you may qualify for partial benefits under the Section 121 exclusion for primary residence gains.

You didn’t mention the property or deal specifics, but for many deals in the recent years, there have been amazing and unusual gains due to multiple unnatural circumstances.

They tend to cost more to construct then they add in value, they are generally more valuable for a property you are holding as a way to generate more income.

It's hard enough to find food management much less good builders from a distance.I've heard good things about Columbus, but I'm just getting my feet wet and gaining some familiarity with Cleveland market.

Make sure this enough gains to make it worth worrying about.

A lot of the US market - housing, stock, treasuries, etc - is basically a legal money-laundering location for honest or ill-gotten gains in the rest of the world, because the markets are open to foreigners and as close to a guaranteed safe haven as can be found.

Last but not least....A few members in replies have already mentioned why it makes sense to hold…….I very much appreciate ALL FEEDBACK, however I think it will be helpful to provide some added context as to why I am absolutely certain (and my CPA’s are convinced as well) on my decision to liquidate the entire portfolio and onceAs I educate clients on daily, income tax brackets as well as long term capital gain tax brackets in our country are more favorable right now than they've been at any point in the past 80 years.

You would have had to be there for at least that to save on the capital gains taxes (up to 250k). 

You’d also make all future capital gains at least partially taxable instead of tax exempt by converting your primary to a rental.

No reason for me to go the through the hassle of the sale process unless there is some type of gain which the investor is open to and this is where I need the advice.