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Not sure about depreciation, but if your rental becomes your primary for 2 out of the previous 5 years, you will be exempt from cap gains for up to $500k (I think)
I did some more research. The 2 of 5 years only applies if you went from primary to rental to sale. If you went from rental to primary to sale, you only exclude the prorated amount of time you lived there. This is my understanding.