for some of us "regular folks", a tidbit of info here to lower the appetite if you are not in that class of investments:"Regulation D, Rule 506(c)" refers to a specific exemption under the U.S.

The town granted the restaurant a temporary exemption based on the fact the business creates jobs, which would be reviewed with new owners or landlords.Another issue is mixed use is structures from another era and it's use had been grandfathered.

Probably not much better time to try out the rental game and if it doesn’t work well, or we don’t like it we can still sell and keep the capital gains exemption.

Thus, you kick any capital gains down the road. 5) The best part of the law says that once it has been an investment for a certain number of years, you can actually move into it, and once you have owned it for a certain number of years, the capital gains you kicked down the road can be rolled into the capital gains that is exempt as your personal residence.

Mooresville Flip and Capital GainsIf you live in the Mooresville property for less than two years before selling, you likely won’t qualify for the capital gains exemption (which requires living in the home for 2 out of the last 5 years).

The one thing to look out for is that you probably get a homeowner's exemption (called a homestead exemption in some states) so your property taxes are probably reasonable.

As a nonprofit, I believe in most places you will be exempt from paying them.

Condo convert this so you will separate the property into 2 APN's thereby, somewhat, making it exempt from rent control  if done strategically. 

You will likely be losing the right to a homestead exemption, so let your local municipality know. 

The non tax-free portion then qualifies for $500k CG exemption for primary residence for a couple?