Real Estate Wholetailing: Close on a property and immediately list it on the MLS to sell at a profit.Owner Financing: Help the seller avoid capital gains taxes and give them a consistent passive stream of income without having to manage the property.While these strategies offer various avenues for real estate investment, thorough research, due diligence, and professional guidance remain crucial for success.

fbclid=IwAR3Ym8qIkzl0e19FhTBJAjcXy3gJsS-VM5-c2r4v684wIQWH5MVPIjt5xfM ... if they pass proposed regulations... there are at least three different proposals in that article...As an owner of multiple STRs here - I don't mind a $200 a year tax on them... it will probably keep out many operators that are not as serious... regulations so often end up benefitting bigger operators (eg. hotels) and hurting true mom and pops. 

Unfortunately, the insurance/property tax cost creep is what it is.

How are my taxes calculated and what years would I pay for the profit I make?

They want to rent it out while they travel and get the tax benefits of being in Nevada.

i recently closed into a property which I bought from another investor who got it through a tax deed sale.

You've built something up to the point where you don't want to lose it, and house hacking is a phenomenal entry point with incredible tax benefits. 

Can a qualified real estate professional with a W-2 income above $150,000 be allowed to write off rental losses on my tax returns?

Obviously I want to minimize my taxes here.

I got sick and tired of paying outrageous taxes so I did some research and found Tax Free Wealth by Tom Wheelwright.