To succeed, focus on properties in high-demand neighborhoods like Pecan Grove or Aliana, and ensure your cash flow analysis accounts for high property taxes, potential HOA restrictions, and flood insurance costs.

I use a spreadsheet I developed to determine my entry costs, carrying costs, cash flow, tax write offs, appreciation and exit costs.

Hi Everyone,I  am a professional wholesaler and property locator, I locate property on/off market, do a full due diligence on title, encumbrances, taxes ect...

It would/could be only 15% capital gains tax and yes you could/would deduct all selling costs including commissions and transfer taxes.

What's even more frustrating than asking the IRS help desk, is asking a Turbo Tax "Tax Specialist".

@Chantelle LewisRecommend exploring as many sources as possible to get referrals AND cross-reference them to get as much accurate information as possible.Check out NARPM.com, BP’s Property Manager Finder (BiggerPockets: The Real Estate Investing Social Network), etc.Also, encourage you to learn from the mistakes of others - by reading posts here on BiggerPockets about owners not having their expectations met by their current Property Management Company.

I'd love to learn more about what's going on here.

Lessons learned?

At the very least you will want to have some general foundations set because with time you will modify processes and the learnings via experience you gain.

Lessons learned!