The Numbers:Cash Flow Analysis: Investors typically look for properties that will generate positive cash flow—meaning the income from rent covers the property’s expenses (mortgage, taxes, maintenance, etc.) and then some.

And would this be considered "capital gains" since it's re-sold under 1-year therefore having to pay a large % of tax on the profit?

There is no Property tax GIS map.  

You must exclude the land value, typically allocated based on property tax assessments or an appraisal, as land is non-depreciable.

Here are some thoughts I hope help.The benefit of selling now is that as an inherited property you will likely pay no taxes because you inherit it at a stepped-up basis.I'm not a huge fan of buying a house that has lot rent.

There are, of course, also things like politics and tax policies preventing the New York side from developing its tourism sector to be on par with Ontario... 

As soon as people receive their tax refund checks, they will be knocking down your door.

It is a very secure investment, and it is almost impossible to lose money on this deal.

How is it a tax strategy though?

Many people get this confused thinking that is take-home (NET) income, when it should be BEFORE taxes GROSS income. 2.