In the past few years I've had some larger tax billed at the end of the year and I'm brainstorming ways I can reduce that burden.If I'm able to pay of our primary residence or a rental property, which should I choose?

Investment Info:Single-family residence other investment.

Your income isn't high enough for it to make sense as a rental and the closer you get to your residence limit the greater pressure you will have to sell it before losing your exclusion in whole or part. 500k right now can make $15k per year income with zero maintenance or tenant risks. 

No maintenance/cap ex, vacancy, PM, book keeping, asset protection, miscellaneous, etc.his actual cash flow when properly allocating for sustained expenses is a fraction of his advertised cash flow.  

Bank a few doors down from my residence didn't ever foreclose on a property.

I always loved having an HELOC on my primary residence as the answer for me. 

I attempted to file a small claims suit in my home county, but confirmed that the suit has to be filed in a county where the defendant resides.

The violations would include 'the personal occupation of a garage as residence' while asserting to police that he didn't live in it, along with the power overloads due to use not in keeping with a garage rental.  

Consider structuring your investment through an LLC for liability protection and tax flexibility.This post does not create a CPA-Client relationship.

Quote from @Adam Macias: Wholesaling as it is today will be a thing of the past.It’ll truly be strange to even hear people and gurus trying to make big money off it.The more people try wholesaling but then end up not having an end buyer or cancelling contracts or trying weird things like novations, the more all of real estate will be regulated and cause requirements like licensing to be able to transact more than just your personal resident purchase.Which I don't know why hasn't happened sooner.Here's all the states (in red or yellow) requiring a license to wholesale or at least have started the process:Credit: REITipsterI think licensing and regulation is a beautiful thing that should happen if you plan to be an wholesaler and do more than one deal... which is going to be the case for anyone taking this business seriously.Or even it being regulated to need a real estate agent to do more than one deal outside of buying a personal residence.I've had plenty of failed attempts with agents in pursuit of wholesale deals and I know exactly why, it's not because the agent couldn't find me deals, it's just not practical to think there's opportunity for the numbers a wholesaler needs to make a profit on top of everyone else needing to these days.Because the only sellers who truly can sell at a deep enough discount are usually those who ran out of time and just didn't do something sooner with their situation.I know many coaches and gurus will disagree with me but there’s no regulations on youtube gurus and what they teach either.If we look at the current state of the market in hot cities, the availability of online resources to the average homeowner, how many deals can you possibly believe are available at 70% of ARV?