Here are the details: I'm going through a divorce and am forced to sell a property that isn't exempt from gains. 

The beneficially of land trust is my CA single member LLC.Single-family homes and condominiums are only exempt from AB 1482 if BOTH of the following conditions apply: The property is not owned by one of the following: a real estate trust, a corporation, or an LLC with at least one corporate member.Am I exempt from AB 1482 or not?

No one would tell a 1st year medical student to do surgery just so they don't have analysis paralysis, yet I see this everyday on real estate forums.  

You loose your capital gains exemption if you turn it into a rental (some exceptions). 

Hi Joseph, You would need a 2 year seasoning period to qualify for a government loan (FHA) and a longer period for conventional unless you had a documented hardship situation, such as medical illness, etc where the loan can underwritten manually. 

Not going to be a huge cash cow per bed, but with the amount of people moving here (looking for a quick cheap sublease till they find a place they really like), students, and temporary IT and medical workers I don't see myself having any problems filling the other two beds for at least $400/month.

This exemption can be used every two years.Consider living it for one more year to give yourself this option down the line.

Another thing to think about, Columbia has two major hospitals and some smaller medical facilities.

The plan is to maximize the space we have and rent as midterm rentals to medical and business professionals.

In, CT, there is also an exemption that you can argue applies where the exemption applies if you are simply reorganizing with no change of beneficial interest.