Even though the transactions all seemed legit with underwriting - they ended up getting sued and paid huge fines and in some states had to convert the loans because they were believed to have been taking advantage of buyers, especially minority buyers.So even though something seems legal, would you want the story on the front page of the newspaper is the question we ask.

If you mean two year rule as in the section 121 exclusion, you need to LIVE in the home as your primary residence for 24 months of the past 5 years from the date of sale. 

@Nate P.Your profile hints that you are living abroad.If you are a US citizen - you want to make sure that the CPA you work with understands the foreign earned income exclusion(FEIE).If you purchase a property and are expecting valuable feedback on how that property will impact your tax return, you will need to provide a rough profit and loss projection(rental income and expenses) along with purchase price to have a conversation with your accountant so that they can provide you good feedback. 

@Ashley Guerra-you can do everything in parallel - you can 'shop' for lending while you 'shop' for an agent-if you sign an exclusive representation agreement with an agent or brokerage, that's when you agree to work with one agent (or brokerage) for a fixed period of time-it's not so much 'rude' to use multiple agents as it's a waste of both their time and yours-typically you will shop and they will shop, and you will choose which properties to look at

PM me for next steps once you get the test back.Get that tenant out of there by any means necessary and make sure your GL policy has no lead exclusions.

The seller must not have sold a home in the last two years and claimed the capital gains tax exclusion."

This is straight from the Chicago Association of REALTORS website:A reminder that the Chicago Residential Lease, and all of CAR’s forms and contracts, are an exclusive member benefit for use only by Chicago Association of REALTORS® members or those who are party to a transaction facilitated by a Chicago Association of REALTORS® member.

We do a couple million a year using exclusively DataTree (First American) Data.

When the son eventually sells the house, does he have to wait 2 years starting from May or November to get the 250k primary residence capital gains exclusion?

The best way to get specific info on foreclosures is through the court system if it’s a judicial foreclosure and newspapers for non judicial statesYou can pay sites for foreclosure data as well but reality is most foreclosures today do not end up foreclosing as borrowers will file bankruptcy