Purchase price: $302,500 Cash invested: $5,000 Utilized VA Loan for a House Hack for my first Rental Property.

At least now your tax basis is $220k ;-)  What was the extent of the repairs?

So we GAIN 7million + tax payors etc.. 

@Anita Z.I recommend finding an accountant who specializes in real estate taxation, tax planning and financial planning.

@Stephen Fleming your cashflow probably won't be what you think it will be:(Have you factored in the new property taxes at homestead millage rates?

And of course we're in agreement on consulting a tax pro.

If you need financial help, ask under the "Finance, Tax, and Legal" forum.

Despite the equity We also want to take advantage of tax advantages we did stay in the property for 2 years !  

Also, be sure to check with the section 8 agency managing the tenants - sometimes if you pass on an additional cost like that they will no longer be eligible to live there if the rent and utilities exceed what they were approved for.

Areas near oil production hubs could experience economic booms, creating localized opportunities for real estate investments.Beyond these broader economic initiatives, Bessent has been vocal about extending or even expanding the 2017 Tax Cuts and Jobs Act (TCJA).