When house hacking a duplex, start by estimating the total monthly rent you can earn from the unit you’ll rent out.

After closing, when the property taxes were due I never received any bill.

Never invest in any city on this list of the 50 most dangerous US cities.Low operating costs: High operating costs are one of the driving factors for many companies, leaving states with high taxes, regulations, and other costs.

Also, how does one assess whether or not one can turn a profit after paying principal/interest, insurance, and taxes each month?

If you provide any kind of substantial services like catering, car service, etc you will change you tax situation and no longer can file under Schedule E.

Is your DSCR ratio greater than 1-meaning are you cash flowing (according to the lender's criteria of mortgage, property taxes and insurance (and HOA) if applicable).

If my target would be low income residents, are there any grants, tax credits, or funds available to help me with the conversion? 

The 1031 exchange will indefinitely defer all tax on profit and all depreciation recapture.

A good real estate accountant can save you thousands of dollars by leveraging entity selection and formation, tax deductions, cost segregations, bonus depreciation and tax planning.I recommend finding an accountant who specializes in real estate taxation, business taxation, financial planning and tax planning.You may want to consider working with your accountant remotely to expand your options.I would also recommend looking for a accountant willing to work with you throughout the year.

The tax advantages of buying/holding gas stations are pretty great.Many of the components of gas stations including pumps, tanks, external parking areas, and other equipment are classified as either 5 or 15 year property so you can bonus depreciate a lot of it (minus the land value) and get significant deductions in year 1.With the 2025 bonus depreciation rate at 40%, a $1 million gas station acquisition could still lead to $100K+ in year 1 deductions depending on the specifics of your deal.