One downside from the new tax reform is that we lose the personal exemption at the federal level.However, the child tax credit increases and it is harder for it to phase out.Also since it appears that you have a small business where you work from home - you may be eligible for a home office deduction.

I'm confused about the wording of "lived two years out of five" for the tax exempt sale of a primary resident.

However, a woman on one of the podcasts (don't remember which one) mentioned how she did her first deal in cash and financed it 20 days after closing using a "delayed financing exemption" .  

Your portion of capital gain is already $800k, of which only $500k is exempt, so $300k is taxable. 

Might be cheaper than a mortgage.Not 100% sure about this, but you probably loose the personal residence tax exemption if you turn it into a rental.

I am under the impression that if it is still sitting on a trailer or has the appearance of being mobile that it would not fall under department of planning and permitting therefore is exempt from this bill which would allow me to vacation rental it out.

I notice you are from Texas which has a homestead exemption rule which protects your primary residence against most judgement. 

I check and Bloomington has a 3 person limit, although owner occupation is exempt I believe.

Hello Jerod Welcome to BP, if you ever want to network with a member based I.R.S designated 501 ( C ) 3 non profit tax-exempt group of income producing property owners housing special need populations let me know. 

This type of conversion could also work for rental units, because any new units are exempt from rent control.Perry Z., speaking of deals in Oakland, I purchased a duplex + cottage with an FHA loan which will meet the 1% rule whenever I move out of the unit I occupy.