Thank god I did because I received it on the last day I could go to the assessor and talk to her in person before I the may 28th appeals datethe letter reads that my new assessment is 590k and that my new taxable rate was 91% of that 590k.  

@Rodney MillerYour math is incorrect.The leveraged portion of gross income is considered UDFI and therefore taxable. 

One last challenge is their estimate of property taxes - they are all VERY low:(Michigan has some interesting property taxes because there's a Taxable Value and a State Equalized Value, as well as Homestead and nonHomestead millage rates. 

Keep in mind: For the 2024 tax year, individual filers won't pay any capital gains tax if their total taxable income is $47,025 or less.

One perhaps silly/stupid idea is if you invest in alternative assets, can you "make back" some funds to pay the tax --- yes, making more money, which is taxable, to cover your tax is a death spiral. 

Scenario 1 = It looks like you have $950,000 cash to pay off the mortgage balance off.You are getting $70,000 additional cash-flow$70,000 / $950,000 = 7.3% which is not bad considering this is just cash-flow and you likely get an additional 4% appreciation bringing your total return to around 11%The thing to consider is that you would then lose the mortgage interest deduction.Without that deduction, it may put you into taxable income territory.You may want to consider seller financing some of the properties and see if you can get 8% to 10% interest.it would guarantee you a return and still get you nice interest over a period of time.As I get older, I want my investments to be more 'simpler'

For purposes of this paragraph (e)(3), an activity involving the use of tangible property is not a rental activity for a taxable year if for such taxable year -(A) The average period of customer use for such property is seven days or less;

So if I liquidate money from my business credit cards and open a forex brokerage account and pay for a trading bot, is the money i use to pay back the credit cards and trading bot taxable?

Right now i’m sure this rental is a taxable income cow, as it’s fully depreciated.

Deeds to burial sites, certain transfers of ownership in real estate companies and farms and property passed by testate or intestate succession are also exempt from the tax)There should be no taxable event unless a sale occurs or when your dad passes.At that point, you should receive the property at the stepped up basis as the life estate is null due to the death.This is tricky - it will depend on how the deed is held.You should check with the attorney who made the initial change and check with your CPA once you find the answers from said attorney.