It doesn't really affect me, other than as a tax payer.

Or you can refinance and hold it if you love it as a rental.Also, I'm 41, married with two kids and just bought another live in flip/BRRRR.

In my example of a $1m building, the taxpayer recognizes $1m of gain, much of that ordinary, and then maybe gets a $100k depreciation adjustment on the outside....so they are getting nailed with $900k of mostly ordinary income.

I purchased homes when I was married.

If the value has not gone up a lot since purchase, this might not apply to you, but one thing that is often a factor when converting a primary to a rental is losing your section 121 capital gains tax exclusion (up to $250k individual, $500k married couple if you've lived in the property for 2 of the last 5 years).

(b) Taxpayer has not adopted a method of accounting for the item of property.

I'm sure I will not provide the proper information for you all to give me the right advice but this is what I've got:I'm a somewhat recently married 36-year-old dude.

She will be paying rent anyways with me so her paying me rent and building our future wealth when we do get married is a much bigger win than us both paying down someone else's mortgage. 

Since you are likely married filing jointy, you can simply use your EIN from your LLC, which is a passthrough onto your taxes anyways.

Married, both W2 earners at 225k combined.