If they have lived in it for 2 out of the 5 years prior to the sale of it they can take the first $500K in profit tax free. 

I own a few properties in the Hudson Valley, NY (Poughkeepsie, Fishkill area for those familiar - B&C areas):7-unit apartment: $500,000 equity - free & clear5-unit mixed use: $400,000 equity - 7 years left on a small mortgage held by prior ownerSingle family (my personal home): $375,000 equity - free & clearSingle family: $80k equity - 22 years left on mortgage, worth about $300kOther than my personal home, all properties are breaking even as rentals - not losing money, not making money. 

If Tenant isunable to occupy the Property by the 5th day after the Commencement Date because of construction on theProperty or a prior tenant's holding over of the Property, Tenant may terminate this lease by giving written noticeto Landlord before the Property becomes available to be occupied by Tenant, and Landlord will refund to Tenantthe security deposit and any rent paid.

The next action step for me is to find sales/comparable data for my market for the purpose of getting a better sense of what is selling and for what price retail houses are going for, along with comparables.  

Because you are using the same payment on a smaller amount, the APR is always higher than the actual note rate on your loan.applicationThe form used to apply for a mortgage loan, containing information about a borrower's income, savings, assets, debts, and more.appraisalA written justification of the price paid for a property, primarily based on an analysis of comparable sales of similar homes nearby.appraised valueAn opinion of a property's fair market value, based on an appraiser's knowledge, experience, and analysis of the property.

@Sean Jany A couple things jump out to me looking at it: 1) your closing costs seem low, 2) the monthly projected income seems off compared to the property description, are you running your numbers based on it being fully rented out (even though you'll live in one unit)?

However, the nearby schools are not that highly rated (5-7) compared to a couple of lesser properties in Elk Grove proper (smaller square footage and fewer bedrooms, worse condition).

They are more comparable to an MLS or a company like Zillow than to a turnkey company.Memphis InvestMore or less Memphis Invest is considered the gold standard in the turnkey space.

Some of those things are:- who directs the work- how are they paid (per job vs Hourly/Daily/Monthly)- do they work for others- is there a contract in placeThe list continues and varies based on who is checking (IRS has different standards compared to Ins. cos.). 

They expressed that this defect had been communicated to RDU prior to the storm and had progressed to grow worse after the deluge.