Transfer taxes, recordation taxes, lenders title insurance, owners title insurance, closing fees, lender fees, appraisal, survey, deed prep, recording fees, insurance, escrow 

After consulting with my CPA, I am now confused.

Is there anything we need to do for taxes?

Other advantages include value add, tax benefits, capability to legally avoid paying taxes on extracted money, and ideally cash flow.  

Take a “break even” sale before interest, utilities, taxes, insurance eat you up?

The book is saying open up multiple accounts for your business for the purposes of charitable giving, owner income, taxes, paying down bad debt, etc.

Is this a true 10% cap or is this what I refer to as the "realtor special" where taxes, insurance, water and a nominal maintenance budgetary number is included.

Hi Shree,Make sure you have a business privilege license and get a tax account number before you apply for the rental license.

Was looking for some better ideas for tax planning, and saw this one, but then wondering now how much money I need bring to table.I also have another house I could sell, and maybe 1031 exchange with like 300k equity in it, so not sure if that would help.

Here's a PARTIAL list:Office rentComputers, printers & softwareInternet & phone billOffice furnitureOffice supplies: paper, postage, ink, etc.Office liability insuranceAuto expenses: monthly payment, insurance, gas, maintenance, registration/plate feesBroker license fees: annual, monthly board & MLS fees, continuing education fees, E&O insuranceEquipment: lockboxes, signs, etc.Business income tax preparation and paymentsStaff payroll & payroll taxes Time Tasks: answering phones, calling past due tenants, scheduling tours, taking marketing pics, processing those pics, writing ads, researching rent amounts, posting ads, explaining to owners how rent determined & showing where ad posted, opening & processing mail, posting payments, bank deposits, scanning documents & posting to owner & tenant portals, explaining accounting to owners so they understand their monthly statements, taking pics/videos of repairs, finding reputable handymen and contractors, confirming they're properly licensed & insured and tracking annually, verifying repairs done properly, processing invoices for utility bills, repairs, taxes, city inspections, scheduling periodic property evaluations/inspections with tenants that don't want strangers in their homes, explaining to owners why taking so long, and more & more & more...