Experienced CA. real estate agents-Please chime in

Hi,

I purchased a home about 15 months ago and was approached by a potential tenant to purchase the place instead of leasing it. I haven't really thought about selling it, but the question did spur some curiousity.

I was wondering what my tax consquences would be if i sold it now. I heard that you needed to wait at least 18 months to sell and had to purchase a new place within 90 days to defer any taxes?

In addition, I was thinking of perhaps doing a lease-to-purchase and was wondering what kind of programs would work best for both myself and the potential tenant.

Thanks in advance.