Me not understanding the numbers I thought the 30k was being taxed. 30k being the estimated check we would get after the sale.

****You got thisit is not about the profits its about decent housing for those that needif I paid you a cents on compounded interest would you take the chance?

Using rocketmortgage as an estimate, I am able to purchase a property for $310,000.

So then, assuming the lender would also pay for rehab/repair, how exactly would I go about estimating the rehab/repair costs on Property X when I have yet to step inside the house?

Without the improvements, my accountant estimated that my taxes after commissions will be $12,500- $9,500 Federal and $3000 state.

They could just take their chances that the lender wouldn't know, but not the best way to be able to sleep at night?

One way that is not foolproof but will give you a good estimate is to only look up properties that have not been sold for 30 years that assumes someone stuck to their original mortgage terms.

Then estimate how much cash you would walk away with if you sold it, and then compare what type of returns you could get if you put that cash into another property or other investment.  

4)  Other landlords/property management companies in my local market charge application fees so it doesn't hurt my chances of getting a tenant if I charge one (if no one in my local market charged an application fee than I would probably reconsider charging one as I'm sure it would result in less applicants applying). 

Closing costs for the replacement property are $4,000.Please provide me with your ballpark estimate of the taxable portion of the capital gain.Thanks.