If you meet the 2/5 ownership/use test, you can still take the primary residence exclusion and any excess gain can be deferred using a 1031 exchange.

Follow up Most deals take multiple touches.

We all hope to pick a great tenant that pays rent on time and stays multiple years.

A property management company that threatens to charge you $300 a day for a negative review is a major red flag and a contract you should not have signed.I strongly suggest interviewing multiple PMs, asking for actual owner references and having an attorney review the management agreement before committing.

You need ONE “global” solution.Instead of financing each property separately, ask lenders about:• A “blanket bridge” or “acquisition line of credit.”This lets you acquire multiple properties under:One approvalOne underwriting cycleOne interest-only lineDraws as neededThen you peel them off with your OO loan each year.This instantly solves your down-payment problem and your timing problem.4.

If you are selling multiple properties at once, especially as a package, I would ask each agent you interview about a lower fee, given the situation.

Multiple exit strategies or you’ll lose 90% of your leads3.

Most of them did not give us a quote or even show up when we scheduled multiple trips to drive three hours one way and block off rental income time to meet them.

One thing that may be helpful as well is talking to multiple contractors for the same type of work even before moving forward.

So far this tenant pays rent on time and long term for multiple years.