Single you get 250k exclusion of taxes, married 500k exclusion of taxes on profits.https://www.irs.gov/taxtopics/tc701 

Fees should be clearly stated in writing, easy to understand, and justifiable.

My problem i is my market is super expensive if I stay in the nyc area and I don’t have the confidence since I don’t have any actual experience to invest out of state do you guys think paying off my mortgage would be more beneficial than looking for more rentals .

Definitely a question for a tax attorney/accountant, especially with the dollar amounts involved. 

Quote from @Alex Brown: Seeking recommendations for a CPA or Tax Strategist who specializes in RE and REPS Status.This post should help:https://www.biggerpockets.com/forums/51/topics/1222774-expla...And none of us is allowed to offer you our services as long as this post is in the tax forum.

It is a tax write off.

My wife and I have business income and our accountant can divide the income according to what would be the best for reducing tax liability.  

He asked me the following:"I have a paid off rental house that I earn a good chunk of profit on in 2024. 

If you are determined to pay one off, then pay off the lowest balance first. 

Which accounting software and tax software do most of you small investors use?