Simply gifting him half the property now wouldn’t immediately allow him to claim the exclusion without fulfilling this residency requirement, I don't believe.One thought would be to use a HELOC to pull just enough equity out of the current home and use it to buy a smaller home, or at least the down payment.

When you allow users to delete their own posts, you disrupt the flow of conversations.This is an OPEN forum, not just a closed network like Facebook.

The downpayment and closing costs would be one large hurdle in order to repeat this, I'm not sure how willing lenders are to allow 3 properties a year.

This would allow you to indefinitely defer all of the tax if you sold, and use the tax you would have had to pay, to purchase something nicer in an area with a greater growth potential.   

It’s an item in our roadmap, but maybe I just need to prioritize it to the top of the list in 1H 2024.Bottom line is that I allowed us to stop supporting it several years ago, in a decision I wish I could have back. honestly, I used to use the app personally as well.

There are Foreign National DSCR Programs that allow Canadians to buy in the US.

I’m not sure if they allow a transfer without triggering the due-on-sale clause.

It will also allow you to focus more of your time and resources in the actual real estate vs. raising capital which usually leads to poor real estate acquisition and operational decisions because raising capital is your full time job leaving an inadequate amount of time for the real estate.OK, chasing 32unit apartments, acquisition priced between 3.2M - 4.8M.  

Kyle,Before you do this call your lender or who ever is serviing the mortgage and find out if they allow a transition into an LLC or if they have a "Due on Sale Clause". 

I need more adviceJust now I suddenly had an idea, the land left by the LA fire and SB-9 (SB-9 allows single-family residential lots to be split into two lots)Is this a good opportunity?