Buying/living in 2 flip houses
HELP!!
We bought 2 investment homes and now are having trouble with the technical parts of it!
My husband is a contractor and we decided to buy 2 houses that were cheap and flip them. (The one house was $95k and the other was $120k, both from the same seller- who is a family member- in a subdivision) At the time, we couldn’t get a loan for the $215k so we have a note with the seller. The houses are now worth over $250k each. We are living in one and in the middle of construction on the other. We have lived in this house for a year now. How do we go about selling these to avoid Capital gains? What’s the best way to do this with lending/title co./ etc.. do we do quit claim on one and 1031 the other? Every time I think about it I STRESS!!! Help please!