How do you differentiate between residential and commercial mortgages. I am looking to buy a two-family (2 unit) building for investment purposes. I intend to place the deed in an LLC and rent out both apartments.
Since it is a residential property under 5 units, I am unsure whether it is qualifies as a commercial or residential mortgage.
Thanks for any input you can provide.
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If I sell them for 600,000 how do I calculate my capital gains tax? What can I do to reduce or eliminate this tax? What will be my net profit?