That’s the scenario I was trying to describe.

The properties were in c level neighborhoods as described.

What you are describing is in fact rental income.

They've done a good job of describing the market and providing start up information.

The 1 year requirement is described as your primary residence is the location that you sleep the majority of the nights or something very similar to that phrase.

Those who say you can't buy groceries with equity are describing what they can't do, not what many of us actually do.

THe house you describe is one where it could easily happen. 

Makes big sense to them to pay good money, but for you as the investor wanting to resell it, you couldn't pay that much and make money.Florida....just being devil's advocate...wouldn't you want to buy in a place that has high demand and the chances of selling or values better, than in the little town I described above where there is no demand and no growth?

It was never described as per property and that’s doesn’t really seem to affect the total.

Not my doing.6 years ago I elected s-corp status (from c-corp).There is no mortgage, and therefore no due on sale issue.The issue is the appreciation and what will and what will not trigger the recognition of a capital gain.I have seen various articles that describe ways of migrating assets from s-corp to LLC that does not trigger this.I was hoping for corroboration and more detail.