Hello all. I have been a Pro member for a while and have really enjoyed listening to podcasts, reading posts and other forum information. I have seen Dave Van Horn, Brandon and several others that have been buying out of state properties where the costs and ROI have been better than local markets to them. One topic that I wish would be better highlighted is the tax implications on these properties. It's easy to say that taxes like real estate is local but how often do the more seasoned R.E. buyers really consider the end of tax year complication from state, local and federal levels. When you really start to parse the taxes on estate, personal and other types of investments, it can be totally crazy. States such as Ill. have such high property taxes yet other states tax personal income as well as social security that living in those states or owning property there brings some down to a much lower level of after tax income that it doesn't make sense to live there. While this is a bit of a ramble, inquiring minds want ot know...or at least mine.
