It's taxed as ordinary income, plus self employment taxes of 15.3%(SS/med).

They are taxed as ordinary income, plus self employment (SS/med).  

Best of luck in RE& med school.

@Paul Mendel  Ian T. you guys seem to be the most familiar with the Albany area.I went to SUNY-Albany from '09-'13 and lived in the "college ghetto" for one year and while I'm somewhat familiar with the area I realize renting and investing are two completely different things.What are you guys thoughts on renting in the "college ghetto" and if you guys aren't to familiar with it or fond of the idea do you recommend any other student rentals areas that are a better option, maybe geared towards other schools such as st.rose, Albany med, sage, etc.

@Annette Ammarell  Not sure I could have put my daughter through Med school.. it was 4 years at Davis in N.

You will pay ordinary income taxes, including 15.3% for SS//Med, on the profit.

Welcome @Joshua WardenI'm a newbie from NYC, I'm actually considering long term buy and hold multifamilies in Albany, NY(around the Albany Med region) or Downtown Troy since I heard about changes taking places, I'm still in the research stage

If they get sued for malpractice they can prove they did everything ethy can - even ran the test four times.Last summer I was on a business trip in Germany and a US colleague had ran out of meds and had to go to the doctor for a prescription.

It's minutes from downtown/midtown/med center.    

Just to provide some color, I work in Med tech and make good money.