Again, I will leave the details to your tax pro.

I work a fulltime job as well and make about $13000 a month after tax.

BTW, you must get a phila tax ID first, then a commercial activity license, and finally a rental license.Hope this helpshttps://www.phila.gov/services/permits-violations-licenses/g...https://www.phila.gov/services/permits-violations-licenses/g...https://www.phila.gov/services/payments-assistance-taxes/tax... 

I saw the 2024 limits for giving a gift tax free is 18k..

Two questions for the group in celebration of tax holiday cheer.1.

But second, you’re also making your tax free gain, taxable.

Sort of.When a lender agrees to a DIL, they will own the property subject to all other loans, liens, possible lawsuits, and taxes due.

Consulting a lawyer and accountant when tax season slows down but has anyone done this? 

There is of course taking into account the area and if it is getting some life pumped back into it, sure you might have a builder or buyer wanting to put a house on it.I would love to hear from anyone with experience on holding on to an empty lot and just taking the hit on the taxes until you can sell for a large price. 

Is there an efficient way to find the neighborhoods that have the least taxes?