2) I believe from the threads I've read so far I think we would be taxed at the ordinary income rate but just want to confirm.3) Here is the tricky part.

Ifthe need for repair is a result of damage done by Tenant and/or their guests,and not that of ordinary wear and tear, Tenant agrees to pay for the repair.  

I'm in Tennessee so can't speak on the specifics on some of the standard closing costs in New Jersey, but nothing looks too out of the ordinary.

I am hoarding respirators, nitrile gloves, Tyvek suits, AK-47s, and a million rounds of ammo, waiting for the height of the pandemic when the gubmint quarantines and  locks cities down, leaving the sheepeople,  excuse me, ordinary citizens, defenseless.

Before they bought a modest older home looks like any ordinary home in East Coast.

I am not a CPA however, you are looking at being taxed at your marginal tax rate (ordinary income).You should consult a CPA or tax attorney as there is one way I know of around that.

If I present you with a line up of 5 Brits and 5 poles, and you can tell me who is who accurately, good on ya.

@David StelzerAnd you still will… profits from wholesome and flips are taxed as ordinary, active income.  

With that said, we drive ordinary cars (Subaru Forester 2018, Kia Forte GT 2021).

MIS focuses on wealth appetites for ordinary individuals, not catering to the relentless greed and cupidity of a few superrich.