Many years ago, you could sell your personal residence ONE time in your life, at age 55 or older and take the first 125K tax free(250K if married).

But I recall someone posting recently its been bumped to 5%.Are you married?

Are you married?

The married couple owns their properties personnaly as joint tenants, three of them which are unencumbered. 

Getting married this summer.

Age of the home might be an issue, non-married person being on the deed, etc.

I am not totally new to real estate as my ex-husband and I had a number of rental homes while we were married.

If married then up to 500k exclusion and you just sell the other property off.FHA is typically for buyers with marginal credit and issues a conventional lender would pass on.With conventional even with less than 20% down at some point you can request an appraisal to drop the insurance part once LTV falls to a certain level.

If you've lived there for at least 2 out of the last 5 years, you can exclude $250k ($500k if you're married) of gains from your taxable income.If it was ever a rental property, there may be some allocations/limitations but, if not, you'd get the full exclusion.The difficulty in getting loans depends on a number of factors like the lenders you're speaking to, credit score, DTI ratio, etc.

Well OK I don't need to close this week and I am willing to settle for a 25 unit building I'm not married to 15...I just got off the phone with one of my mentors.