I did not see taxes taken out for profits.

To that end I just paid off yesterday my last legacy bank debt took me 12 years but its done an gone now. 

Outside systems like plumbing, sewage, and the water heater should be in good condition, and make sure there are no signs of pests.Additionally, look into property taxes, insurance costs, and zoning laws that could affect future development.

Then purchase a Note, generate $250 - $300/mo tax free!

School me on tax strategies within each model.  

Or paying off my debt, while I provide them with a nice house to live in instead of an apartment. 

Since you are renting out part of your primary residence in Maryland, your main concerns should be liability protection and tax compliance rather than complex asset structures.

Hi,We recently (Aug 2024) bought commercial land of around 2 acres. this was part of bigger commercial lot (around 25 acres) which had AG exemption and so the taxes that they paid was around $20 each year. we received a 'AG ROLLBACK' letter from the appraisal district that starting 2025 tax year, we will be taxed at it market value resulting in additional taxes, interest and possible penalities for 3 prior years.

I promise you will have options once you finish renovating.If you purchased correctly (location & purchase price), you will have enough equity so that you can either sell it for tax free capital gains, cash out refinance (if mortgage rates are lower), or pull a HELOC to acquire your next property!

I own 19 properties in Rhode Island and have found the Eastern CT market to have Rents just as high as Rhode Island with property prices 60% less and taxes 50% less.