it's going to be rented to a non tenant, used for storage.

Further, because permitting for construction of multifam buildings are non-existent in the $750-$1000 per month range, this is a solid category to buy in, here in FL, because overbuilding won't dilute values or rents.... so the economics of each area are huge in determining which markets to invest in.

Can you show that this transaction is against statutory law, case law, or against public policy?

I think the way that I presented it to him was very non-threatening and very logical.  

There are a lot of ins and outs so I don’t want to misinform you with my  “non legal” advice but one wrong step in the process and you start over so seek legal council. 

You'll only get to prorate the the gain between the time you lived in it (qualified use and tax free) and the time it was investment (non-qualified use and taxable).2.

@David Khalfin Please read up about the concept of a Public Adjuster.

They may have sections such as insurance requirements that are non-negotiable but most if it should be.

Texas is a non-disclosure state for the sale price, but it appears appraisal district always ended up finding out about the sales price (definitely for residential. not quite sure about commercial ones)Thanks in advance!

If the IRA sold it (to a non-disqualified person) then the proceeds would go back into the IRA.