@Jonathan BockMost probably dont know that their marginal tax rate is different from their effective tax rate.

I'm currently the founder and CEO of 1031 Prime, a tech enabled 1031 exchange service to help keep taxes at bay and support the defer, depreciate, and die model.My goals for the next 18 months are to continue to grow 1031 Prime by servicing my fellow real estate investors and buy a small MF property, Ideally 4-8 units. 

Especially in tax advantaged retirement accounts. 

I have friends invested in all different parts of Philly, most with good to great success (good prices, low taxes), but you really have to do A LOT of due diligence and I would not be buying from a wholesaler or a company like New Western if you are new.

Tax BenefitsWith living with your parents you get none of these.

Sell home: ideally avoiding capital gains tax by living there for 2 of the last 5 years2.

Good old Uncle Sam.For most folks in the US, taxes are anywhere from 30-50% of their gross income every year.To protect yourself, you should do 2 key things.1.

Laud area-Cash flow is minimal, $300 a month-Selling now would allow opening up of equity to redeploy in another market with over 2x the cash flow for a new build-New market won't appreciate as much as FL though (not even close)-Current home will likely get hit with higher taxes, insurance etc. in coming year and years to come-Biggest reason to consider just keeping current property?

When I did underwriting, since a portion of the insurance costs and property taxes are collected at closing, I reduced those from the first year of expenses.

Or better, buy a property that is not subject to an HOA.Also, if you are leasing for 6 months or less, you will be subject to the 6% Florida short term rental tax.You may also have city and county additional taxes, business tax receipt, and mandatory inspections for short term rental depending on the jurisdiction where your property is located.