Assuming you have a one year contract with your realtor:Apart from the usual buyer representation commission, do you have any exclusive clause with your realtor?

If you have lived in the property for two out of the previous five years you could qualify for the 121 exclusion, where you get the first $250k ($500k if married) of the gain tax free.

Quote from @Ragan Manning: Hey Nicholas,I am the owner of Manning Your Books and I work exclusively with REI clients.

Gifting the property to your son transfers your basis ($265K) to him, allowing him to sell at his lower tax rate (0%-12%), but requires using part of your lifetime gift tax exclusion.

I have my separate allocation of funds exclusively for investment property.

This is a more affordable option but only protects against named events.Comprehensive Coverage: Often called “all-risk” coverage, this protects against most unexpected events, except exclusions like flooding or earthquakes, which usually require separate policies.

2️⃣ Property Tax Deduction: Claim up to $10K for state & local taxes.3️⃣ Capital Gains Exclusion: Sell your home?

What kind of exclusives in the area does the current tenant have?  

2️⃣ Property Tax Deduction: Claim up to $10K for state & local taxes.3️⃣ Capital Gains Exclusion: Sell your home?

If you need a referral to an excellent agent who works exclusively with STRs in that specific market, I can refer ours