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So from an investment standpoint, when you go to sell your house, potential tax issues you need to be aware of: short-term, long-term gains. But talk to your tax professional, have some of that advice coming in from them from a total income standpoint. Most people that are in and out of real estate, their primary business is not real estate. So the income you make from your regular job, that's going to directly impact as well what your tax basis is going to be. For a homeowner, or the time you're selling the house you live in, You need to have lived there 2 of the last 5 years. If you're less than that, close to that, you need to talk to a tax professional to verify because the gain on that property could actually be taxable to you. Your personal residence is one of the greatest ways to create wealth for yourself. You have to do it the right way in order to avoid Uncle Sam getting a piece of it.