You subtract all your costs from the revenue to get to taxable income.As a self employeed business, you're responsible for both halves of the SSI and medicare.

You're taxable income is over $1M.

But if you sell part of that real estate to someone else that is probably a sale and a taxable event. 

page=LoadVirtualDoc&BookmarkID=6536) that capped annual increases to the Taxable Value of a property to the lower of 5% or Michigan's Cost of Living increase.

Depreciation will likely offset all of your income from the property, generating a taxable loss which can offset the stock capital gains.  

If you haven’t had it for very long and your intent was just to flip it, then I believe it’s plain ol’ taxable income.

@Jay HinrichsYeah I have been approved a tax emigrant from Norway since haven't lived there for 9 years, so as long as I don't stay in one place more than 180 days in a calendar year, I'm not taxable to anywhere atm.

The yield from the force appreciation of those repairs and updates will pay in increase rents, property value, and taxable expenses is going to return far more than the 2% in money accounts. 

So only 85% of the $100k is now taxable ($85k).

A client with pent up passive losses will also sometimes strategically take cash enough to offset some passive losses.There are two times you can receive cash - At the closing of the sale your intermediary can identify the amount you want on the settlement statement and you get it at the closing - taxable of course.