Any allocation of passive losses you cannot use in that calendar year will carry over, so they can be used in subsequent years.Keep in mind, some property types will garner more bonus depreciation than others.

Any allocation of passive losses you cannot use in that calendar year will carry over, so they can be used in subsequent years.

If you're set on a beach area, I would allocate more money for at least a 4 bedroom (big revenue jump for multi-family stays..) and focus on Florida since the seasonality is significantly longer than even Georgia or SC.

Your accountant will have no problem allocating the full $500K exemption to you even if she is not on the deed.However, if you and she have not been living in that property for 2 out of the 5 years prior to selling it you cannot take the primary residence exemption. 

Investors should consider allocating their funds into safer investments like online savings accounts, CDs, US Treasuries, and money market mutual funds, which offer a far greater return than the 5% spread to risk-free.

So the newer syndicators (because let's be real, if you purchased a larger MF property on your own, you were seasoned and experienced) sometimes got themselves in pickles and tried re-trading on issues that are not usually allocated for this part of the negotiation process.

And this is a big opportunity for you.You can allocate those proceeds any way you want. 

This option gives you the greatest optionality in picking your asset allocation based upon your risk tolerances and goals not based upon what you need to do to beat back the tax man. 

Meanwhile, the allocation for your primary residence will fall under sec 121. 

That premium to be paid is not realized until the allocation for the period has been passed or consumed.