(Net sales proceeds after all costs (PS. loan payoffs are considered proceeds.) minus purchase price is your taxable net gain.

@Hiyun Park only experienced investors can DIY everything in Class C Midwest areas like Detroit, Cleveland, St Louis, etc.Hopefully the info below will help you:-----------------------------------------------------------------------------------------Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

If a policy excludes wind coverage (more common in places like Florida where insurance is severely strained by weather and other market conditions) then all wind related events are excluded.In those cases, it's sometimes possible to purchase a wind policy (usually covers wind & hail) which would provide tornado protection.

Find out which filters are best for your furnace, purchase a year's worth, write the installation date on each one so the tenant knows when to swap them, and inspect regularly to verify it's happening.

None of these strategies are new, all existed when I purchased by first investment but none were as popular as they are today.

I helped a client purchase an SFH fixer with a detached garage.

Second, there is sewer line insurance that the buyer can purchase (literally only a few dollars per month) which they can sign up for if/when the line fails, and if/when it needs replaced.  

Purchase price: $1,150,000 Cash invested: $200,000 Sale price: $1,599,000This beautifully renovated single-story home features 4 spacious bedrooms and 2 modern bathrooms, situated on a 9,000+ sqft lot in a tranquil cul-de-sac.

Save money for a decade, build equity in house…sell house and use savings + capital from sale to purchase house in Montgomery County MD.

You can purchase 3x6 subway tile for under $2/ft.