Let me know if you'd like to hop on a call to chat, but this is one of the reasons why I mostly advise clients to always negotiate vacant delivery on properties before closing. 

However, you can defer taxes under §1033 involuntary conversion if you elect to reinvest the proceeds into a similar rental property within two years (three years if the government condemns the property or threatens to do so, and four years for a principal residence in a federally declared disaster area).To reduce taxable gain, consider:Electing §1033 treatment and reinvesting the full $300K into a new rental property to defer taxes completely.Partial reinvestment, where only the portion not reinvested is taxable.Properly documenting all replacement costs and property details to ensure IRS compliance.Using cost segregation on the new property to accelerate depreciation and offset future taxable income.Since the §1033 election must be made, consult a tax professional to ensure compliance and maximize deferral benefits.This post does not create a CPA-Client relationship.

Yep I know it- I've had multiple tax clients over the years face a mean surprise with that. 

Eg, i have a friend/client who determines it based on income vs PITI.

We would never recommend that for our clients.

Honestly my wealthiest clients and friends with 8 figure plus net worth have little to no debt..

You can buy a set of five for under $300, subscription for the recording software is $10 a month, then the cost of WiFi or hotspot.If you've already had a couple break-ins, you are obviously in a high-crime area.

For now, consult a CPA to determine the best structure based on your income and investment goals.This post does not create a CPA-Client relationship.

Brokers look out for their clients, insurance agents look out for their job.

Avoid C-Corps, as they incur double taxation.Use LLCs for rentals and consider an S-Corp election for flips if income justifies the additional complexity.This post does not create a CPA-Client relationship.