Normal people work their whole lives and save nothing.Be extra ordinary @Johanna Anderson.  

It also has a great design with a entrance vestibule and door to a walk in basement common area, that could be used for both tennant to store their summer stuff....2 driveways with parking for boats or multiple cars, a detached garage for the maintence guy (me) lawn mowers etc...and a back patio common area to be shared and huge fenced in yard for pets or whatever....all steps from the water.  

My only worry with a back door camera is there's a decently sized patio in the back and I don't want guests to feel like they don't have privacy. 

I think the income type will be the same as ordinary income, but not sure. 

The one time that I pulled my own permit for a fence, it did not end well--namely because I realized in process that the person, while skilled at landscaping and patio work was not skilled with fences, but I do know others who have been ok. 

He'll pay taxes on the income from the property at ordinary income levels, but nothing for the refinance action. 

If by short term flips you mean wholesaling and doing assignments, then profits are ordinary income.

I'm also a great resource for your visiting guests on Shopping, Eateries, The Arts...I've provided services that take you from ordinary"HOST" to "SUPER HOST" !

The rates you've mentioned don't seem too out of the ordinary, but I don't want to make assumptions since I don't have the full picture and there are multiple variables taken into account here. 

Are you getting a deduction that will offset the real estate capital gains and then recognizing the gains as ordinary income throughout the period the SPIA is paying out?