I am going to spend the next year paying down debt, paying off this tax payment and basically getting back to having a nice 1 year cash cushion.

Cost: $230,000Taxes: $7100/yearRents Collected: $2400/monthAssume mortgage/tax payment is $1800/month for debt service.

If you have good planning and are not in a situation where you have to make estimated quarterly tax payments (and are doing 3 flips a year) you may be able to roll it all over a couple of times and then pull the tax cash out from the 3rd sale.But from the sounds of it, you will be making estimated tax payments in year 2 so you are back to holding back a portion of the profits from each sale.

We have a truly radically left-wing county board that's been screwing the taxpayers every which way, their latest trick is to pass a "living wage" ordinance so that ANY project, contractor, anything connected with county gov't in any way has to pay at least $11 and some change per hour!

There should be 2 addresses listed, the mailing address and the taxpayer address.

Generally, the taxpayer (person or entity) that buys the replacement property must be the same taxpayer that sold the relinquished property.

But don’t forget to include your monthly insurance and property tax payments when figuring cash flow.

In California if a squatter stays and makes property tax payments on the house for at least 5 years he/she can obtain the property?

For example: Tax payer owes 10k in Back taxes. they wind up on your mail list. and you work out a deal to pay their back taxes and give them some cash as well?

The partnership is actually the owner (taxpayer) of the real estate and the seller of the real estate.