Capital Gains Exclusion
I just sold a two-family rental property that I've had for six years. I lived in the property four of the six years moving out two years ago. Do I still pay capital gains or am I excluded? This is my first sale of an investment property so I'm new to this 
Your sale profit is divided between the residence unit and the investment rental unit. If the two units are about equal is size, then share the profit equally between the two units.
The profit on your residence unit is eligible for the Section 121 capital gains exclusion, but depreciation allowed (or allowable) will be recaptured at 25%. It does not matter that you rented out your former primary residence for two years, you still qualify for the exclusion.
The profit on your investment rental unit is taxable as a long term capital gain and depreciation allowed (or allowable) will be recaptured at 25%. The long term capital gains tax rate is either 5% or 15% depending upon your tax bracket.
Thank you for the reply!! What exactly is meant by "recaptured" when you say recaptured at 25%? Like I previously stated, this is my first time so I am not familar with any of this terminology.
Search the articles archive. Some time ago, Dave T contributed an article titled "How Depreciation Is Recaptured". That article should clear up all your questions on this topic.