Additionally, while rates aren't historically bad right now, they are higher than 4-5 years ago, and they will be even higher for you as an investor than they were as an owner occupant, which is what you were when you bought originally.I get that you are anxious to add to your portfolio, but that could be achieved without touching your first golden goose.Sometimes on BP, the push is to leverage every last spare penny, but that can be a risky game as the markets shift. 

I have done it successfully on my last 2 buildouts, maybe 3, but only because I was able to acquire the properties at a very low price and I did all the work in-house (myself and some hired hands on staff).

For the son to qualify for the $250k exclusion, I believe he would most likely need to meet the ownership and use test, meaning he needs to own and live in the home as his primary residence for at least two of the last five years before the sale.

CO Tenant Screening Laws have changed a lot over the last couple years.

So, over $40 Million of fourplexes were sold in the last 14 months.

Out of the four properties , there is one solid tenant, the other is struggling and the last two  properties are not renting.

I haven't heard of any, but met with a few people in the twin cities last year.

Hello @Jeanette Land - (Great last name by the way to be into Real Estate)...

But with that one lender I found I am not lendable due to not having proof of income for the last two years.

As far as your primary residence, if you have lived in it 2 out of the last 5 years, you should not have to pay taxes on capital gains (difference between what you paid for it & what you sold it for) up to $250,000 if you file your taxes as an individual and $500,000 if you file jointly with a spouse.Just a disclaimer, I am not a tax professional.