Or will New York immediately, or sometime in the future, want their portion of tax on the gain? 

Does it mean that I have only 75k of my non-taxable money and 200k portion is kind of income that I need to pay a taxes?..

I would like to ideally rent out the basement too so it covers a portion of my taxes/hoa/mortgage.

The husband would like to get his portion of the security deposit since he's been kicked out and no longer living there.

In return, they would theoretically agree to sell us the house when they're ready.Mom & sons continue to live there until they decide to sell (likely soon to pay for college) or until the divorce forces the sale.Once they are ready to sell, we buy it at a discount & flip it.Alternatively, maybe we buy out the husband's equity in exchange for part ownership in the property, then buy out the wife's portion when they are ready to move. 

If you paid for the placement, I'd try getting a portion back based on the fact they didn't properly screen.

I'll also mention my financial planning thus far has set me down the path of having an emergency fund (~6 months expenses), vehicle repair fund, vacation fund and even general savings fund, all of which a portion of my biweekly paychecks direct deposit into.This probably all comes down to personal preference but I guess my main question is this.

From there the long term capital gain portion flows to Schedule D.

Below is a portion of text from NCGS 1A-1 Rule 4:"...Upon the filing of the complaint, summons shall be issued forthwith, and in any event within five days.

You are REQUIRED to provide an accounting of how you spent ANY portion of the security deposit.