For those curious, if this applies to them, just follow these general principals: To qualify for the Section 121 exclusion you must: Must live in the home in the past 2 of the 5 years 24 months non consecutive required Must have owned the home for at least 2 years Only one spouse needs to meet the ownership testBoth spouses need to meet the use test Neither spouse has excluded a gain / used section 121 in the past two years Must file jointly for the 500k exclusion

Especially labor intensive endeavors like flipping.I think you'll find that using an IRA works best if you a) purchase in cash and have a professional property manager, b) invest in notes or c) loan your funds out to other investors for a higher rate of return than what one could expect from Wall Street.Could you flip houses in an IRA?

I may switch to a 5% conventional loan to avoid the risk of failing the self-sufficiency test.

@Susan Thelen it’s likely easiest you do this in excel so you can easily modify variables and test the NPV sensitivity.

That's because a lot of things that "work" when tested can't handle the load of people living there and using them consistently and so they fail quickly.

Unfortunately, now I'm realizing house hacking might not even be a thing with the new test they are doing in 2023.

In short you hire a lead testing specialist.

Stress test your capex, occupancy rates, rent rates, etc

Furthermore, should any tenant request that mold be tested by a laboratory or a mold “remediation specialist,” costs of such tests will be completely borne by the tenants.

Hi Bob,If you have had a positive experience like it seems that you have, I'd suggest sticking with your current turnkey provider.8 years is a long time and only having 2 tenant turnovers in that time is fantastic.They have stood the test of time and not many turnkey providers do.Also, why fix it if it's not broken?