If the property was your *primary* residence for at least 24 of the last 60 months (2 of last 5 years) you owned it, then you qualify for the capital gains exclusion. The "look back" counts back 60 months from the closing date of the sale. The 24 month primary residence requirement does not have to be 24 consecutive months either, so long as all 24 of those months falls within the prior 60 months of ownership.
Also note that since you are required by law to depreciate rental property, and then recapture that depreciation when you sell it, understand that you *WILL* *PAY* *TAXES* on any and all recaptured depreciation no matter what.
Also understand that you are not required to own the property for 60 months/5 years. You *are* required to have it as your primary residence for at least 24 months/2 years.
