The part you live in would be your primary residence and as long as you live in it 2 of the previous 5 years before you sell it you can get the profit from that portion of your property tax free ($250k if you're single $500k if you're married).

Since you're married this might be outside both of your tolerance levels. 

And the days of a husband who is married with children and lives 1-3 hours away and needs a room due to a promotion or job loss are long gone.

Until you get married and your spouse says no, we’re not living with others.

I have a LLC with two business partners (married friends of mine).

A single member (or married couple) LLC can be looked at the same as a property in your name vs a multi member LLC which is much harder to pierce.

I got married in March and June, yes we had two just in case :-) and just got back from the honeymoon.

@Samantha P.Oh, if you are house hacking, you lose the section 201 exclusion of the $250k single / $500k married capital gains tax exclusion. 

There is also the ability to sale and pay NO capital gain taxes if the sale profit is less than $250K for single or $500K for married. 

Thinking through different exit strategies which include 1031s (traditional,) outright sales, switches into over vehicles (ie. funds such as Realty Mogul, QOFs, MAS that work w/1031s) etc.One scenario, overly simplistic in my mind and thinking something obvious might be getting overlooked, is pane low income.Lets say my wife and I save up funds and suddenly retire at the same time, where we would have zero w2 income and other income sources (ie. rental income) would be below the 2022 married filing jointly limit of $83 350 - would this then mean we could sell an investment property we had for over a year and incur 0 capital gains?