@Mason VitalisYou may be referring to the 2-out-of-five-year rule which states that you must have owned and lived in your home for a minimum of two out of the last five years before the sale to qualify to exclude up to $250,000 of that gain for individuals and up to $500,000 if you file a joint return. 

The fha 100 mile rule will be triggered whenever you try to vacate your current primary and also trying to use the rental income to qualify.However, this 100 mile rule can be exempted for the following rulesRelocationIncrease in family sizeVacating a joint owned propertyNon-occupying co-borrowerIf you are not trying to use FHA on your 2nd house hack, you can use conventional and the rules that I mentioned above will not be a concern.

Hello everyone--I bought a house in Virginia in cash jointly with my son 5 years ago. 

Hello - I have a somewhat unique situation that I am unsure how to best claim on our jointly filed tax return.

Let's share knowledge, explore joint ventures, or simply discuss the future of real estate.Let's Connect:Whether you're interested in AI, keen on sustainable investing, or looking for innovative real estate strategies, I'm here to add value.

I'm cooling off from my knee jerk reaction & trying to figure out how to handle this situation.What would you do?

Where it comes into play here is the older buildings with asbestos pipe insulation, or asbestos in joint compound and window caulking.

The fha 100 mile rule will be triggered whenever you try to vacate your current primary and also trying to use the rental income to qualify.However, this 100 mile rule can be exempted for the following rulesRelocationIncrease in family sizeVacating a joint owned propertyNon-occupying co-borrowerIf you are not trying to use FHA on your 2nd house hack, you can use conventional and the rules that I mentioned above will not be a concern.

Great talking to you and good luck with the school sale@Pyrrha Rivers - yes definitely looking forward to a joint meetup in September!

Should we do a joint bank account with the funds?