I have used a CPA in the past when I had 2 S Corps but when I closed them I started doing taxes my self with good old Turbo Tax.

You see, I currently wash dishes for a local restaurant chain during the day, bring in barely 1k per month in income (after taxes), a little over half of which goes toward living expenses, and use a bicycle and the local transit system to commute around town since I don't own a car.

. $500/mo Hoa and $300/mo property taxes. $100k SFR in the Midwest with no appreciation no Hoa, $100/mo property taxes $900/mo rent less than 1% rule but better deal. 

Is it a tax lien, foreclosure, BK?  

Here are the details: - 4 bedroom, 2 bath about 1700 sqft, built in 1883- Neighborhood: C I think, close-in 45503 if your familiar with the area- Duplex upper unit and a lower unit, each 2br 1ba - Current rent 300 upper and 400 lower (which is up from 200 and 250 in 2014), neighboring duplex gets 600 for a 3 bedroom but it's nicer- Expenses (prop management, lawn, bills, taxes... ) in 2016 so far $2200 and in 2015 $3200- Profit from 2015 was about $500 (had the upper vacant for most of the year), profit this year should be about $1,600- Appraiser $50,000 Zillow $58,000 Trulia $37,000 Estate $16,000- Bought in the 80's for $15,000Thoughts?

David spoke about cycles and how buying selling high and how he has liquidated his assets several times but what about capital gains tax?

At 65k with taxes and insurance you should be under $500 a month you can't beat a cheap place to live. 

A tax attorney or CPA would be a good one to talk with about this as well.

Keep separate accounts for personal and business, and talk with your attorney about an LLC or corporation and the differences in paperwork needed and tax implications for each type of filing.

I was think about liquidating my 401k which after taxes and penalties would net me about $95k and buying 4 properties I can rent out for $500 to $550.