Can I raffle my house and keep the profits in Nevada?

Answer 1

I don't think you could do it anywhere. Housing sales are controlled by a number of things.

You'd need to own the house free and clear. You would have to have the deed ready to be notorized to its new owner.

What if you get 5 entrants at $100 each? Are you ready to give away your house for $500.00?

If this is your personal residence, you can exclude the first $250,000 of gains on the house, $500,000 if you are married. Everything else is subject to capital gains. If this is an income property, all gains are subject to income tax.