Are you required to generate income though? 

Duplexes, triplexes, or small apartment buildings allow you to generate more rental income while spreading the risk across multiple units.

We dealt with rentals, flips, commercial, small apartment complex developments (~10 apartments), sport facilities, and a few government contracts.We are actually very open to different opportunities and investment approaches, but our plan was to start "smaller" with some cash deals in NJ (maybe somewhere in the area between Staten Island and Philadelphia, but staying in NJ), by flipping a few smaller properties and starting to generate some income.

My understanding is that a lower price to rent ratio may indicate a property’s ability to generate cash flow.  

The outcome of investing in 9121 Chesapeake Blvd has been positive, with the property achieving full occupancy and generating a steady rental income.

As for the estimated income taxes, there’s no gain until I actually sell the house, at which point everything would be in COGS anyway—under your method or J Scott’s method—so I’ll know how much net income was generated and can easily estimate income taxes.

Gain the skills to take on projects like revitalizing single-family homes, converting underutilized commercial spaces into profitable mixed-use properties, constructing small apartment complexes, or repurposing vacant lots into valuable community assets, all with the aim of strategically growing wealth within the community and for your family.As a Developer, you’ll also become a….Community Catalyst: Become a local real estate developer to transform your community, shaping its future and making a positive impact.Profit Center: Real estate development offers opportunities for financial growth, turning your investments into substantial returns.Creative Agent: Unleash your creativity and innovation in design, sustainability, and community-focused projects.Job Creator: Your projects create jobs, benefiting both the community and local residents.Legacy Builder: Develop a lasting legacy by creating buildings and spaces that leave a profound and enduring impact on your community for generations to come.Join the movement to reshape our community through local real estate development!

Rent out any bedrooms you aren't using while you live there to generate even more cashflow. 

A DIY cost segregation study will likely give you the report within a day.These studies are generated by completing a questionnaire that was created by engineers.Best of luck.

But, I would recommend hiring an REI-savvy Bookkeeping Professional one day so you can focus on other higher revenue-generating tasks.