If you are willing to have a remote CPA, you may find a more qualified real estate CPA as the location of your CPA is not as crucial as their experience with real estate. 

Or Your current resident home insurance?  

Step one is to buy a primary residence to live in, step two is to buy another primary residence to live in and turn the 1st one into a rental.

Purchase price: $165,000 Purchased as primary residence turned rental property.

I am an investor myself and have renovated roughly 300 properties for REI Nation, worked for the management company speaking with residents, spent a short time on the customer service side of the business working with existing clients and their portfolios after purchase and to this point have spoken to close to 6,000 interested investors answering questions about Turnkey real estate in general and REI Nation specifically. 

Get the one who left to state in writing that they are gone and have them removed from the lease assuming the remaining one would qualify on their own. 

Assuming that John’s wife is managing the Airbnb Rental and qualifies as a material participant, John Doe’s family can deduct $150k from their w2 income for the year 2022 (Bonus depreciation 100%).This would equal $33,000 in a tax refund for the family.

Investment Info:Single-family residence buy & hold investment.

Purchase price: $950,000 Cash invested: $150,000 Single-family residence with potential to add two separate ADU apartments.

Can someone please explain the IRS rule that allows homeowners to avoid paying taxes on up to 500k in profit from selling their primary residence?