This data is based on current interest rates for rental properties, estimated HOA fees and property tax, as well as estimated rental income using zillow's API.

Thanks for your input...im new trying do my research and really unfamiliar with any taxes I also see like a capital gains tax as well and some other jargon...like I said if I could be directed to a place or give insight on business taxes...just trying to learn

This means you are not trying to turn the property.Some information on the tax treatment of Flipping:Flipping is treated as a business and is subject to income tax as ordinary gain and some or all of it may be subject to Social Security and Medicare.That said:A 1031 is a great way to defer the taxes on an investment property.Just make sure you do your due diligence to be sure you know what you're getting yourself into.

C (or equivalent schedule if it's a partnership), and net income is subject to FICA tax. A

. , the IRS defines "Excise Tax" as taxes paid when purchases are made on a specific good, such as gasoline.

After completing name change, is it a matter of preparing new deeds with just a name change, or do I have to pay transfer tax as if it were being sold to a separate entity?

Welcome to BiggerPockets @Aaron Davis.If you don't wait 2 years on your personal residence before you move, you'll end up paying the capital gains tax as you mentioned above.

The thing I just don't get is paying 3-4K in property tax a year for a house that was purchased for 10K or less.

When I resell the home do I just pay standard income tax or do I pay capital gains tax as well?

That's a huge prize in real estate investing, plus now we avoid the 3.8% healthcare tax as well that will hit ALL real estate investors, unless you or your spouse are full time.