Albeit, at the advantageous long term capital gains rate, so probably about $15k in Federal tax. 

If it is federal flood insurance vs a private company cost will be higher. get quotes.

@Josh Wallace The depreciation schedule (usually called a Tax Asset Detail, Fixed Asset Schedule or Federal Asset Report) is just the document that shows your depreciation deductions.

@Brian Dickerson, federal law prevents lenders from exercising the due on sale clause if you transfer the property into a trust for estate purposes, but you must remain as the beneficiary, which means that you also still have all of the liability.

Personally, I have 17 single family  homes, government subsidized units that out perform anything I've ever seen.

Do you know if the buyer of your property was able to obtain a federally-backed mortgage on the property? 

It provides uniformed Service members equitable housing compensation based on housing costs in local civilian housing markets within the United States when government quarters are not provided."

I think you're ready to purchase a tax-deed the major down-fall is that too many foreign investors and small capital groups come in and buy the best properties near or above market value....There's a bunch of posts on tax-deeds its just you have to spend sometime  learning how to title examine (this is a key skill you will have to learn).1/2) These properties are being "foreclosed" by the local government - in general its state specific for instance in FL it is true they can be redeemed until the second before sale however after you're pretty much done for (however if its a valuable property and any of the previous owners in the chain of title have a bit of cash to throw around you'll be forced to defend yourself in court which can be pretty expensive).

From what I experienced, when a property is sold, you're due gains tax to the federal and state authorities, either short term or long term if you're the owner.

If I pull out for instance $100k, I get hit with a 10k (10%) penalty then taxes (assume 25% federal, 5% state) on the full 100k as well right?