You'll draw more people into your listing by excluding it but might be seen as more honest if you included it, usually anyone buying 16 units should also be doing their own calculations, so it probably won't matter much either way.

Just my conversations with applicants during the showing is priceless and I'd say excludes at least 50% of them or more.Also, be very careful working on a lockbox with the public.

@Danial QureshiYou most likely will be eligible to exclude your gain on the condo, even though you did not live there for 2 years. 

You may be eligible to exclude some gain from the sale.Dallas is a nice place to live/invest in.No state income tax and the state is booming business wise

The unemployment numbers exclude too many people who've left the workforce...

I was able to exclude much of the capital gain from taxation due to the personal residence exclusion (https://www.irs.gov/taxtopics/tc701).I moved to an area with a lower cost of living and am renting while I assess my opportunities for buying a smaller home at a lower price.

- Most lenders will lend between 65-75% of the resale value, and may offer a variation such as 80-90% of purchase price including or excluding rehab costs up to 100%.

In a NNN lease the tenant is paying the PM fee unless it specifically excluded.

@Logan LarochelleUltimately, everything you report on the return can be questioned by the IRS...will they...Your role is to report an accurate return based on the tax laws provided to us.If the IRS questions anything you should say you are excluding the gain via section 121.Show them the closing documents on the day you purchased the home and the closing documents when you sold the home.Then to show that you lived in the home for 2 years - show them the receipts of utilities that are in your name.Likely they won't audit you - but in the chance that they do - you should at least have the documentation.

The adjusted basis is equal to original cost + improvements - Depreciation taken on your return.You can look at your prior year tax returns to see how much basis was taken.See Schedule E - Line 18 - Depreciation Expense or Depletion>You may be able to exclude all/portion of the sale of the house if you lived in the house for 2 out of the last 5 years.I had to spend a few months fixing up the house before I sold it.