How does the real estate tax benefit work?

[Effram Barrett]

Now this is technically a legal question but I'm sure investors would know. How does the tax benefits work on real estate? For example , say I net $8,000 from a wholesale deal, do I put that 8 grand into an account and use it for my next investment? How exactly does it work? And I'm assuming I pay taxes if I do not put it into more property