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I have no idea if you are currently sitting on a gain in the property but thought you should be aware if you do not live in your home at least two of the last five years before you sell it you will have to pay taxes on any gain.

For instance if you bought a home for $100k. Turned it into a rental a number of years later when it was worth $300k. Sold it five years after that for $400k. You would have to pay taxes on the entire 300k (=400 - 100) gain. If instead of renting it you sold it back when it was worth $300k you would owe no tax on the gain. Then you could take that gain and buy a seperate rental property.

Just a thought,

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