Are you allowed to use let’s say 230K of the deduction in the year it was realized to bring taxable income from W-2 down to 70k and carry forward the 70k to the following year.

If that is the case, to understand this you have to look at the previous year's taxes for valuation - especially what the taxable value was for the prior owner.I suspect this is very much a first time buyer's issue - where you weren't expecting the increase, but typically there is an increase to market value.  

I'm not from your state - but in Florida your taxable basis is established by your purchase price at the time of the sale.  

You must dot your I’s and cross your T’s with a halfway house state regulators will be sure to look into the books since she gets federal grant money to run the house.

Only threat is that interest rates go up instead of down; however, the federal reserve has been very clear about rates going down and have already started lowering rates. 

Not sure how often that happens and to the extent it does, how much individuals are receiving.Trying my best not to politicize this, but have to add that massive bailouts are going to continue to get harder to afford with the high federal debt we have today.

(adjust cost basis - net sale = net gain)Once you have that you can deduct state and federal taxes from that figure.It doesn't sound like it in this scenario, but if you have lived in the property for two out of the previous five years you could qualify for the 121 exclusion.

Happy tenants are more likely to renew leases, reducing turnover costs and vacancies.Legal Compliance: Property managers ensure compliance with local, state, and federal laws, including regulations on rent control, fair housing, tenant rights, and eviction procedures.

I understand federally I can deduct payments on mortgage interest, property management fees to my onsite property manager, maintenance, etc.

Right on the bank statement you could see the following:- Federal & state tax refund deposits of $12k- Purchase at a care tire shop, assuming new tires for her car.