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

The first is that there's no consensus between tax professionals, and the second is that you will not like my personal interpretation.My interpretation is:Until the property is "placed in service" - everything goes into basis.Illustration.You buy a property July 1st.You finish rehab November 1st and put the property on the market.Your tenant moves in January 15th.The property was placed in service November 1st, and it does not matter that the tenant did not move in until the next year.Everything paid between July 1st and November 1st, including interest and utilities, goes into basis.

However, these programs typically qualifies borrowers based on their income, such as tax returns.The DSCR would be a good option considering you and your husband are entrepreneurs and the tax returns don't look good on paper.

I know we would see tax savings too. 

That leaves $400 to cover taxes, maintenance, vacancies, etc.Now, let's pretend ALL your expenses come to $2,600 and you have $400 left over.

You do not need to provide tax returns, W2s, paystubs, etc.

Specifically:Will the lender only consider the rental income from the two legally zoned units, even though all three rental incomes are declared on your tax return?

Can any CPA that is taking new clients message me, I am a metro Atlanta investor with 9 rental properties and need help with taxes. 

This will also allow you to avoid taxes on the sale.

High taxes.