If you can get a family member to help you out, you may want to consider keeping this internally.

CPAs and/or CPA software default to putting 365 in there no matter the reality, so you have to micromanage this.We spend a lot of time internally going over income calculations, and we do this for a living, so a full and complete answer is beyond the scope of one post.

In addition to Sheetrock replacement, usually....ac handler, many electrical components, many plumbing components, etc.  

My guess is that it's a bank owned home and it's just sitting there. 6 years without becoming a REO is a pretty long time so maybe something weird is going on internally with the new owner.

You can work for investors for free or intern or something.

Maybe it's not necessarily that you need to agree or disagree with Grant, but rather that you're able to internalize his concepts and scale it to where you're comfortable as an investor. 

If I may ask for some additional clarification, are you saying that my new residence that I'll purchase (or build) needs to have an investment component in order for me not to have to pay capital gains taxes from the sale of my current investment property?

@Johnathan Owens shoot me your contact info (and resume if you'd like) and I'll pass it along internally.

Flipping and Renovating doesn't interest me (yet).Also what about international?

I search the tax assessor website and found taxes owe on property that I was interned it.If I choose to make an offer I should subtract the balance owe right?