You may be able to deduct mortgage interest and property taxes before the property is in service. 

Legitimate lenders may charge a small application fee (around $250) to verify you’re serious, but if someone’s asking for thousands with no real intention of closing, that’s a huge red flag.On a more positive note, there are creative financing approaches out there.

Hey @Nick Gallon Martin, I recommend speaking to a Tax Planner/CPA, @Jeff Nash would be a great resource for you.

There is some room for creativity here, but it takes careful planning and execution, and there is only so far you can push it before crossing the line from aggressive but legal to reckless and punishable.GROUP 2: Legitimate tax strategies, just not for the EOY to-do listForm an S-corporation.

If you live in the home for 2 out of the past 5 years and move out of state you may be exempt from the tax.  

I'm talking about tax season! 

At a 7% annual return, this could grow to $908K after 10 years, providing immediate liquidity and diversification.Alternatively, holding the property could yield $825K net equity after taxes in 10 years, assuming a $900K sale, with the potential to defer taxes via a 1031 exchange if reinvested into another property.

The absolute best way to avoid taxes is not earn income.  

I’m in the 33% tax bracket through my real job and this could be a big difference in taxes owed if we sold the property?

This is a screenshot from a private Facebook group for tax professionals.