you'll probably still need something long term like software as others have suggested but this was a thought i had... you could see the actual profit or loss from a tax perspective for each property.

The fact that you have a TAX-FREE income is crazy good.  

One tip I have for you when it comes to finding an agent or lender go to the top of this page under BUILD YOUR INVESTING TEAM and click on AGENTS & LENDERSFrom there you will be asked a series of questions and then you'll be matched with 3-5 agents/lenders.

On your tax return you would report the proceeds, subtract costs and proceeds paid to seller, then the remaining profit would be your flat fee.

They will handle the collection and distribution of payments, amortization, escrow accounts, and any tax documentation. 

Have any idea about Gift tax in NY?

Personally speaking, from an investment broker and investor standpoint, I feel single family investing is the riskiest in some investment ways in comparison to larger investments due to the fact that it only takes 1 repair or tax/insurance hike to put you under or lose all income.

Welcome to the community and be ready for a huge amount of information at your finger tips.

@Palak Patel copied from our website, so use what's useful for you:_________________________________________________________________________Below is more information about what our Applications Department does to screen applicants and find the best tenants possible for your property.Required InfoWe require the following from each applicant over the age of 18, that is not a dependent of another applicant (as evidenced on a tax return):Copy of acceptable state picture IDRecent YTD paystubRecent W-2Recent Bank Statement, all pages, no info blacked outRecent tax return if self-employedApplicants are often slow about turning this information in, asking us why we need it and then taking several days to submit.

Some people use their IRA to fund fix and flip's and keep the profit in them tax free.