Hello, I am a 25 year old living in NH who recently started talking about purchasing a multifamily home with my partner.

However, my CPA is telling me that since I live in the house, it doesn't qualify for this deduction. 

If you have ample street parking and aren't in an area where the cars will get destroyed by hail, etc. than it is less of an issue.

I live abroad in Bermuda and I'm currently unable to buy property there due to restrictions and transaction taxes.

Live and learn.In November/December, we closed on two properties in PA to flip for extra cash.

I'm live in Old bridge, NJ and due to high property taxes in New Jersey, PA seems like the best state to invest in(Tavel time ) I'm trying to identify rental markets and research, while trying to establish a team.I've done some research and came up with a few areas in PA include Allentown, Lehigh Valley, Bethlehem, Scranton, reading and Kutztown I'm hopping to cash flow between $100-200 per unit is possible (with property management), and can reasonably expect some appreciation in the next 10-20 years (2-4% per year would be ideal, though achieving positive cashflow on my first purchase is my #1 focus).

Where I am, people often create a suite in the basement-so it has a separate entrance, their own kitchen and living area, etc. 

Built a nice chunk of equity and also lived for free/cash flowed after I left. 

Hello,My partner is planning on selling her condo, however, I am in the midst of purchasing my first property and we plan on living together.

Normally in a spot like this, we would recommend to a client that you sell your primary residence and claim your capital gains exemption under Section 121, but you have two strikes against you: (1) you have not lived in this property long enough to qualify for that, and (2) I'm hoping you already claimed an exemption on the sale of your other primary residence a few months ago, and you can't claim Section 121 exemptions within 2 years of each other.