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Income would be from hunting dues and timber harvesting, expense would be conservation management, taxes, and the mortgage.

My net number is rental income minus expenses(3 mortgages, paying power bill at all three houses, property tax, insurance, internet in two properties).

A successful rental property should offer positive cash flow, meaning your rental income should exceed your monthly expenses (mortgage, taxes, insurance, maintenance, etc.).To find the right tenants, ensure the property is priced competitively within the local rental market.

High taxes.

This would allow you to indefinitely defer all of the tax if you sold, and use the tax you would have had to pay, to purchase something nicer in an area with a greater growth potential.   

After collecting tenant pass-throughs for the year, do you pay the property taxes at the end of the year or the beginning of the next year?

With an 8% mortgage rate, they would pay more than $650k in interest.One major problem for both buyers and owners beyond mortgage rates is the rising cost of property tax and insurance.

And you would get to indefinitely defer all tax on the gain from the sale.

Don’t want to pay taxes on the capital gain.