Let's assume your expenses (mortgage, taxes, insurance, maintenance, vacancy, etc.) comes to a clean $600 and the property rents for $1,000.

.: Stessa isn't good for keeping track of tax deduction items.Stessa was designed to just look at P&L.

Tax Preparation, Tax Advisory, Accounting.

What is the interest rate on borrowing compared to the rate you are earning, then take into consideration the tax consequences. 

If you aren't familiar with Baltimore, I would suggest it's a hard no and say that you are trying too hard to make cash flow happen talking Baltimore and tax liens and auctions.

However, before you do so you should ensure that your revenue from rental income covers ALL your property expenses in the townhome, including mortgage, taxes, insurance, maintenance/repairs, vacancy, property management, etc...

Focus on cities with favorable price-to-rent ratios, population growth, and employment trends, such as Des Moines, Oklahoma City, and Charlotte, while considering factors like landlord-friendliness and property taxes.

Thats $7700 a year NOT including my accountant/Tax prep. 

How do we minimize taxes on the profit we're making on this first home? 

Hi Everyone,I  am a professional wholesaler and property locator, I locate property on/off market, do a full due diligence on title, encumbrances, taxes ect...