@James Boreno Your taxable gain is calculated as the sale price ($575K) minus your adjusted cost basis ($500K), resulting in a $75K capital gain.

When the rent rates stabilize, I suspect they'll bring it back.I wouldn't try it in a location like Portland, but 99% of the country would be fine with a policy like this as long as it is disclosed and applied equally.

I can't work in a cubicle forever.  

I'm in the Tampa Bay area and I will put an ad on Craigslist, Indeed or post in a group on Facebook for AirBNB/STRs. 

Quote from @Samuel Hudson: Hello friends I am new the market and recently bought a home in Weehawken 6 months backs .Its a three family home and we are currently doing renovations Right now.The rent leveling board told me that two units would have to follow a rent of 1650 for unit 1 which has three bedrooms and another unknown amount for unit 2 which they don’t have the information for .The previous seller I purchased the property from bought it as a tax lien .He has kept the property vacant for two years with no tenants before selling it to me .However ,the previous Owner he bought it from must have had tenants .I am putting in a lot of money into renovations and want some clarity on the situation I am in .The property has been vacant for the two years and currently still is as we are doing renovation .It would be really appreciated if anyone can assist me on what information needs to be provided by from the previous seller for me to be able to set the rent based on the market value .Thank you . 

Agreed with everyone here - You're headed in a good direction here.

There is a lawsuit from a company that invested in a deal with someone on BP (not this group) who ironically changed the name of their company after multiple failed deals) that is suing the GP and people personally for negligence because the sponsor did not do what they said they were going to do.

Do you put managers/assistants/employees in as co-hosts? 

In a  Dplus area, 2nd floor unit, considering installing LVP. 

so just because you would not want to live in a specific town for various reasons does not mean they aren't attractive to others and good investment opportunities.