You would have had to be there for at least that to save on the capital gains taxes (up to 250k). 

I’m looking for ideas of how to do this, and any advice on how to protect my primary property along with paying low taxes. 

I have created a lot of loss in my taxes over the last few years and now want to get a mortgage for a new primary home.

Using Zelle, CashApp, etc. makes your taxes harder and it's all not in a system.

This would allow you to defer the capital gains tax, and instead of taking a large tax hit, you would be able to use the tax to invest in a nicer property/properties.

Property taxes creep up, exterior repairs , and a brand new HVAC last year wiped out $11k of reserves.

If we assume all cash and a 50% expense ratio (this improve with time due to the near fixed property tax) would provide 4.8% return from cash flow not including closing costs).  0.5 (rent ratio) * 0.5 (50% rule) * 12 (months). 

The house has appraised for $335k, my hard money note is for $242k, and I'm looking at only about $15k out once closing costs, taxes, and insurance are accounted for.

One time when I bought on owner financing, I totally forgot that I didn't have property taxes included in my interest-only payments to the seller. 

The big pro that sticks out to me in Birmingham is the tax rate.