ProfessionalA professional plumber can usually replace a kitchen faucet in 30–60 minutes.

I am about to graduate college in May 2025, and will be making about $120k (pre tax) in my full time job postgrad (Washington DC area).

It is what is left after snow removal, cutting the grass, utilities, tenant issues, parking lot issues, property taxes, mortgage payment, etc. that make a difference.

You also don't have to pay state tax on income. 

Tax Savings:While it’s true that the stock market has been strong, real estate offers unique tax advantages that aren’t available with other asset classes.

No management costs as it would be self managed, and estimated property taxes by the average of the past few years.

How do we minimize taxes on the profit we're making on this first home? 

If you aren't familiar with Baltimore, I would suggest it's a hard no and say that you are trying too hard to make cash flow happen talking Baltimore and tax liens and auctions.

@Emily Gowen so as you pointed out you would not have to do a 1031 exchange on your current home to avoid the capital gains tax and coupled with what Dave Foster pointed out I think, speaking from experience you would have a high likelihood of success. 

Tell everyone in your sphere of influence that you are now a real estate professional and would like to help them and anyone that they know buy or sell real estate.