@Daniel MadhavapallilYou should hire a tax professional. 

The tax paid from your lending proceeds should be the equivalent of your tax rate I would think.

I’ve been in the industry for several years, and my work has given me a solid understanding of property systems, maintenance, and what makes a home a great investment.I’m now looking to expand my own real estate journey by learning how to acquire and manage short-term and long-term rental properties.

@Jonathan Baptiste cool story glad you learned a lot.Now, multiply all that by 300+ tenants and you'll know what the average PMC has to deal with!

Hence the lot on which the house resided was taxed at a 45% discount based on actual value, while the tennis lot was taxed at about 4 times what it should have been by value. 

Looking for various tax strategies to reduce the reality that a large RV or boat is a grossly depreciating assetI would not have a loan, so claiming it as a primary or secondary residence and claiming the mortgage deduction is not applicable.I sold my primary residence and I have several rental properties which I use as I'm fixing them up.What I'm pondering is living aboard and working aboard developing a new product, while traveling.  

There are many tax accountants on Bigger Pockets that can help you with your situation. 

If your friends have a rental they should hire a tax professional. 

You can learn just about anything you need to complete a small project off YouTube and with the right tools.  

Then I p;an to move out and find another project.I am excited to join the forums and learn from the vast wealth of knowledge on here, as well as (hopefully) benefit the community with some of my own learnings.Look forward to the journey.Franklin