And yes, I already filed my 2023 tax return.  

Real Estate Wholetailing: Close on a property and immediately list it on the MLS to sell at a profit.Owner Financing: Help the seller avoid capital gains taxes and give them a consistent passive stream of income without having to manage the property.While these strategies offer various avenues for real estate investment, thorough research, due diligence, and professional guidance remain crucial for success.

In San Diego, we call it the Sunshine Tax. 

fbclid=IwAR3Ym8qIkzl0e19FhTBJAjcXy3gJsS-VM5-c2r4v684wIQWH5MVPIjt5xfM ... if they pass proposed regulations... there are at least three different proposals in that article...As an owner of multiple STRs here - I don't mind a $200 a year tax on them... it will probably keep out many operators that are not as serious... regulations so often end up benefitting bigger operators (eg. hotels) and hurting true mom and pops. 

Potential ways to spread their tax burden over years as well. 

There are many buyers who purchased in 2020 to mid 2022 who may owe more on their home than it is worth and need help to move on.I recently purchased a home with an assumable loan in November of 2023 with a 3.08% interest rate during a time when new loans were being written at over 7.5%!! 

So long story short I purchased a 2 family in nyc in 2015 I owe 399 on it mortage is 2800 p/m but I bought it with fha loan so I am paying PMI.

Unfortunately, the insurance/property tax cost creep is what it is.

How are my taxes calculated and what years would I pay for the profit I make?

They want to rent it out while they travel and get the tax benefits of being in Nevada.