Its not a sale, no money is being exchanged.Can this be done without paying the Florida tax of .70 per $100?

You're looking in the right place because TX is going to appreciate much quicker over time but the cash flow won't be as much since the taxes are higher.

You'll also owe the 5.8% Idaho income tax on top of that. 

Guys I read a couple great posts here about HELOC for self employed businesses were there are many write offs to show an income on a tax return.  

Keep in mind you will also likey be paying transfer taxes on assessed value of the property in order to complete the transfer even if transferred for a $1 or a "nominal amount".

That being said, I did get hit with a late fee for property taxes 2 days after I closed with DR Horton’s title company (which I was also forced to use) 

I am technically an active CPA but haven’t been actively using the certification in almost 10 years and never specialized in tax, but I still have the general background and understanding.

This is a tax term that the IRS uses.

Tax BenefitsMy guess is if it doesn't cash flow, you will make money the other three ways that you wouldn't otherwise be able to if you rented.

Other advantages include value add, tax benefits, capability to legally avoid paying taxes on extracted money, and ideally cash flow.