Individual Income Tax Return).Schedule C (Profit or Loss from Business) or Schedule F (Profit or Loss from Farming) as appropriate.Schedule SE (Self-Employment Tax).You can download these forms from the IRS "Forms & Publications" website.

If you want to be in a duplex, consider Round Rock, closer in NW Austin, or S/SE Austin. 

I am currently working on putting together my "team" or my "circle" per-se as I get into Real Estate investing.

Don't know about the SW FL but certainly in the SE FL area.

I started investing in Huntsville in 2017 and currently own 16 units across 4 fourplexes in SW and SE Huntsville.To set yourself up for success, make sure you have a great property management team to help you execute on your plans to renovate and rent out the property.

Therefore, it shouldn't be examined in isolation.Really what we're looking for is if your activities rise to the level of a trade or business, and if the property was used in that trade or business.It's possible a one off flip (or two, or three) might be capital gain and not ordinary income subject to SE tax. 

Most real estate investors don't consider their primary residence an investment property, per se.

@Ray TroundayS-Corp may save you SE taxes.

Megan, I am an agronomist by trade and worked in NE Missouri for 5 years, I now work in SE Iowa.

The property is 20 minutes SE of DTLA and can honestly say you're less than 30 min to major attractions (beach, Disneyland, Rams stadium, 3 Cal States).