Moved Out Of Home 2 Years And 11 Months Ago
So BP community I need your help brainstorming a solution for a friend of mine. My friend lived in his previous home for three years, and moved out Nov 16th, 2014. He has been renting it out to one tenant for almost the past three years. The tenant living there offered to buy the home, but mortgage application just fell through due to bad credit. So, my understanding is he now has 20 days to sell the house if he wants to exclude the capital gain. (Only $8,000 of capital gain tax, so only a little meat on the bone to sale the home at a retail price to another investor.)