Hi - if you sold the home last year, you would need to report the sale on the tax return for the year the property was sold. The lien is not really a factor in calculating the gain. The gain is merely the price paid plus closing costs and improvements - the proceeds from the sale, so for example if you bought a home for 250k, the closing costs when you purchased it were 25k, your cost basis is 250k+25+ = 275k. You sold the home for 350k, so 350k - 275k = 75k gain.
When you take a property and begin to rent it, you would depreciate the property, so the property/asset would be placed in service at the price paid for the property, similar to the calculation for cost basis when you sell a home. Since the capital gain is excluded, you may purchase anything you like with the money. If you decide to purchase business assets with it, such as a car for Uber driving, you would report the income and expenses on the Schedule C as self employment income. The vehicle would be depreciated using the standard mileage deduction or actual expenses incurred during the tax year.
https://turbotax.intuit.com/tax-tips/self-employment-taxes/tax-tips-for-uber-drivers-understanding-y...
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