@Mandy Cohen if the gains are sizable, you may want to look at some charitable giving strategies like a Charitable LLC.

I noticed the only deduction really left untouched is the charitable deduction which is what the ultra-wealthy use as a total scam. 

Now they are at the point of donating there 4 plexs in Vegas to their charitable foundation..  

Donation to charitable cause (end homelessness).  

When you utilize strategies that reduce your taxes, you’re creating immediate cash flow to put back into your business and grow your wealth.As a real estate owner myself, here are some tax strategies that I’d recommend discussing with your CPA.Energy Tax CreditsSolar Tax ProgramHistoric Tax Credits1031 Exchange ProgramReal Estate Depreciation InvestingOpportunity ZonesEngineered Charitable Deferred TrustCost SegregationNet Income Loss AcquisitionLow Income Housing Tax CreditEmployment Tax CreditsThese tax strategies offer so many benefits.

A) Itemized deductions is not only mortgage interest but also real estate taxes, charitable donations, medical expenses, etc.B) mortgage interest and real estate taxes, as it relates to itemized deductions, is only on the personal residence side of a house-hack.Therefore, it needs to be prorated.C) if you buy at the end of the year, your mortgage interest / RE taxes will be small since it will be only 1-2 months worthYou will most likely take the standard deduction for 2022

The only thing I'd have to double check is when is the sec121 exclusion for the $250k capital gains tax exclusion is applied, but I'm pretty sure its applied after...Capital gains is taxed at the Federal level, and I believe from all the discussions also by California.You could tax loss harvest any other capital assets that might be down, e.g. stocks.I don't advocate the charitable donation for the sake of tax... 

Evaluation Mechanisms:Implementing monitoring and evaluation mechanisms helps assess the effectiveness of projects and allows for adjustments to optimize impact over time.While the traditional role of non-profits is often associated with providing charitable assistance, this model explores the potential for philanthropy to directly contribute to economic growth and financial well-being across various sectors.

With a clean-out like this I typically take anything usable to the Salvation Army as a charitable donation.

Consider, though, that these loans may have been for primary residences and are made as a charitable effort/program to incentive home ownership in the area.