She will learn some valuable people skills, you can pay her a management fee (start a Roth IRA for her) and so on.If I had any advice it might be to get a qualified attorney to draw up the lease, consult your insurance agent for all needed protection (including an umbrella policy if you don't already have one), screen the roommates, and if she rents to friends she may lose them due to her 'manager' status.Lastly, what is your exit strategy?

We focus on apartments of 100+ units, mobile home communities, senior (not assisted) complexes for partners and consulting services.

The correct advice: consult a tax pro.

That should be something less than $150K in this case, so that would all fall under the exclusion, provided the two of five years condition is met.As always, consult someone who really knows for a truly correct answer.

Many mortgage consultants sorely underestimate the negative impact on the credit report these events have.

NationwidepiEnjoy reading your posts but the statement you made that it is not legal for an agent to receive funds outside of closing is 100% wrong if your talking about fees for service.In California a broker can be paid fees for services before, during, or after a deal, and as a matter of fact there doesn't even have to be a deal just a consultation..

I consulted a couple lawyers and they tell me that I am OK and that even if challenged in the future I would have no problem.

For that I guess I shall consult with my accountant.

If I did consult an agent wouldn't the commision be paid by the seller?

Not only will the seller be happy you will to when you see the money you make as a "consultant" to help them sell the house.