Commissioner, TC Memo 2012-118 (April 23, 2012))I would focus on avoiding the capital gains tax because that will be a much larger cost than the incremental property taxes on a newly purchased property.

We're hoping to self manage a newly acquired beach house.

Check this out: https://www.mykwrealestatescho...Keller Williams has launched a free pre-licensing program.Worth a peruse.

Exempt categories include: properties that are not defined as a "rental dwelling unit" per section 16.20.100 of the Sacramento County Code; newly built properties during the first five years after receiving a final completion sign off on a building permit for initial construction from the County of Sacramento; public housing owned, operated, or inspected by Sacramento Housing and Redevelopment Agency; and rental units subject to the Federal Housing Choice Voucher Program."  

Simpler / Restricted: Buy a newly constructed house (from a builder) or a property never depreciated/amortized (No rental/business history) within OZ map and start renting it out for the first time (within 6 months of fund opening).

Additionally, the loan officer says my situation is better using a conventional first-time buyer loan rather than a FHA loan.Question: since I no longer need to live in the first house to qualify for a loan, should I still search for a fixer-upper house, work on it, and then rent it out; or should I just buy a newly remodeled house and rent it out?

Additionally, the loan officer says my situation is better using a conventional first-time buyer loan rather than a FHA loan.Question: since I no longer need to live in the first house to qualify for a loan, should I still search for a fixer-upper house, work on it, and then rent it out; or should I just buy a newly remodeled house and rent it out?

Simpler / Restricted: Buya newly constructed house (from a builder) or a property neverdepreciated/amortized (No rental/business history) within OZ map andstart renting it out for the first time (within 6 months of fundopening).

We have a newly renovated rental property and someone has approached us with the option for them to AirBnB arbitrage it. 

I think it's perfectly reasonable for an SO to want to launch a real estate endeavor from a place of financial strength