Excluding taxes and insurance, your monthly payment is roughly $1,700 dollars a month. 24 months ago that same loan of 250k, with a 715 credit score on a 30-year fixed was hovering around 4% meaning you’d pay just under $1300 per month.

Was thinking rent out our unit, do another another live in flip, live there for 2 years to avoid the tax hit, then sell it….Anyone have any creative suggestions?  

I've interviewed like 4 CPAs/tax strategist this year and it's difficult because I know I'm not always comparing apples to apples.

And it is tax deductible.

If you simply slow it down just a bit you'll also be able to keep the tax on profit deferred and use it for your own growth with 1031 exchanges.Instead of buying fixing and then selling to ratchet up slowly. 

If so, you could consider that tax savings.

These accounts offer tax advantages and can be a powerful tool for long-term wealth building.Focus on Education and Networking: Continue to educate yourself about real estate investing and personal finance.

More specifically, how many years of tax returns is needed to be shown to qualify for a cash-put refinance?

@Dominick Tonnarini, The only issue with your plan is that you will have to pay a sizable tax on the sale of that property when you do sell. 

If that doesn't cover the principal balance plus all accrued interest, exit fees, yield maintenance, prepayment penalties, default interest, advances made for unpaid property taxes and insurance (even forced placed insurance), advances on senior loans, foreclosure costs/fees, toxic waste cleanup, costs of resale, the list goes on and on...the lender can sue each and every one of you for the entire unpaid amount.The way this would likely play out, should the lender elect to enforce the personal guarantee, is they would file suit naming each partner as a defendant.