Your then left with different individual interpretation of the law and a legal process to deal with.

Basically, look to the IRS interpretation of "being in the business of" something as opposed to investing.

Housing prices have gone up about 40-50% in the past couple years, but rents have been more flat, and I don't know that you'll be able to get a property to cashflow with 20% down these days.Most people say "stay towards the west side" which can be interpreted as west of the 14 or west of Sierra Hwy, but perhaps you can find opportunities elsewhere.  

@James Vermillion @Joshua DorkinI would like to extend your guidance and say if you have never participated in the forums (i.e. zero posts) and send out a colleague request without an personal introduction, the recipient has no context in which to interpret the colleague request.Such requests have not substance and are little more than spam.

@Steven Hamilton II(ii) Exceptions The term "period of nonqualified use" does not include—(I) any portion of the 5-year period described in subsection (a) which is after the last date that such property is used as the principal residence of the taxpayer or the taxpayer's spouse,If I interpret this correctly, it sounds to me that the period of rental use during the five year look-back period prior to sale might not be counted as a period of nonqualified use.

Thank you for the welcome gentlemen.I hope this isn't interpreted as an advertisement because that isn't my intention.

Perhaps I was drinking too much when I first read that, but my initial interpretation was that windows were part of common elements and thus POA responsibility (I hate legal jargon).Since it seems I may be incorrect on that, that makes me feel a little better.

Anyone care to interpret what this means?

I'm not sure how to interpret this statement about insurance:"Insurance premiums paid in advance.

Once posted, any info is out there for readers to interpret, correctly or otherwise, and post, no matter their state of mind.