This might make sense, but again, you are just deferring the taxes and now pushing tax from capital gains to ordinary income. 

You get out there and put deals together with your eyes wide open to avoid as much as you can. 

Are you sure prop taxes are forgiven?  

Am I setting myself up for a tax nightmare?

We also run numbers to avoid lost money on blindly paying for an appraisal to find out its a dead deal or of no benefit.

It's going to offer Strong economic growth, Appreciation (especially in DFW), Tax advantages (no state income tax), and a Growing population, including infrastructure and amenities. 

Lower taxes, no POS and lead testing. 

If there's only 1 meter in the property with multiple tenants, its easier to bake it into the lease amount to avoid headaches down the line. 

Quote from @Samuel Hudson: Hello friends I am new the market and recently bought a home in Weehawken 6 months backs .Its a three family home and we are currently doing renovations Right now.The rent leveling board told me that two units would have to follow a rent of 1650 for unit 1 which has three bedrooms and another unknown amount for unit 2 which they don’t have the information for .The previous seller I purchased the property from bought it as a tax lien .He has kept the property vacant for two years with no tenants before selling it to me .However ,the previous Owner he bought it from must have had tenants .I am putting in a lot of money into renovations and want some clarity on the situation I am in .The property has been vacant for the two years and currently still is as we are doing renovation .It would be really appreciated if anyone can assist me on what information needs to be provided by from the previous seller for me to be able to set the rent based on the market value .Thank you . 

Payments $492 (interest, tax, insurance) currently owe $51K.