I’ve had a few conversations lately with people who just sold their primary residence and immediately started stressing about how much tax they’ll owe on the gain.Here’s the part many homeowners don’t realize:Section 121 of the tax code allows you to exclude up to $250,000 of gain if you’re single, or $500,000 if you’re married, as long as you meet the ownership and use requirements.For a lot of people, that means no tax at all on the sale of their primary home.Of course, details matter — how long you lived there, when you moved out, prior rentals, improvements, and timing can all affect the calculation.

I own two houses in that zip code. 79903 is a good area with appreciation potential.

The municipal maintenance code and inspector are what decide if your wiring is OK.

If you’re renting out rooms in your home and the rental portion isn’t a separate dwelling, your deductible expenses are limited to the amount of rental income (under § 280A(c)(5) of the tax code.

Generally there aren't huge "loopholes" to let you avoid things in the tax code.

Revised Code, specifically Chapter 5323,-------Designate an agent: The owner must designate an in-state agent for service of process.”

And is the wiring even set up the right way code-wise?

For our management we use turbotenant, mostly for payment processing, a separate accounting software, plus a big spreadsheet for all other misc stuff like access codes, unit info, meter info, etc.

Secondly, an additional third unit requires either a zoning variance or special use permit on your local code, aldermanic approval notwithstanding.

To this day, we do not know whether these were prior guests who still had access because door codes were not changed, or unauthorized use by someone with inside access.