I joined the site to learn, expand my knowledge base, network and hopefully gain some new business.

Thought some of you more seasoned investors / experts could give me more insight on how to structure this and/or other possible exit strategies in this situation in order to reduce my capital gains tax?

In addition we are also looking for a mentor in the buy and hold/fix and flip realm to gain real world education about our current strategy.

My husband and I have been renting what was formerly our primary residence for  nearly two and a half years and need to sell by the end of August to qualify for the capital gains tax break to fulfill the requirement that we had lived in the property two of the past five years.  

Look forward to joining you all, learning lots, and sharing any insights we gain.  

However, in my opinion, and experience you need to learn and gain a great understanding, of the various municipalities, with respect to demographics, pocket market appreciation/ depreciation, pocket market economic factors, demand for the need to rent, the needs of tenants such as close access to transportation and shopping, vacancy rates, etc.

I became a Real Estate Agent in the summer of 2015 and have gained a lot of experience in that time.

Through podcasts and books, i have gained some knowledge of how real estate works.

Net Worth Statement                                                     Fair Market ValueCash                                                                                       $10,000Investments                                                                          $20,000Real Estate(original purchase of 95,000)                         $145,000Total Assets                                                                          $175,000Liabilities  Mortgage                                                                                $108,750Equity Equity                                                                                         $66,250if you are trying to do an income statementStatement of income & expendituresGross rent(A)                                                                               $10,000Expenses(B)                                                                                 $5,000Taxable income (A-B)                                                                 $5000Unrealized gain on assets(C)                                                    $5,000Book Income A-B+C                                                                    $10,000looks simple and easy to read/understand

Lot of the hard/private money is about relationships and you have to prove yourself in a sense to gain their trust and vice versa.