You'll pay no tax on gains below $250k (single) or $500k (married) if you lived there for 2/5 previous years. 

When you buy a tax certificate for vacant land in Alabama,1) Do you have to wait 3 years to get the tax deed and in the mean time have no right to the property2) Do you still have to take possession of the land after getting the tax deed.

I was recently informed that there are portfolio lenders that don't do a credit check, don't require an appraisal (possibly BPO), or tax returns, etc and are truly asset based.

They get scared of the mortgage, maintenance, property taxes, etc. 

@Justin Holley it all depends and there is a lot of flexibility.Our PMC is able to pay insurance & taxes for owners as well as utilitieis on vacant & MF properties.The only thing we shy away from is mortgage payments - too much potential liability if we pay late due to our error or owner portfolio doesn't have needed funds.Pretty much anything specifically related to a property should probably be paid via the Property LLC for easier accounting/tracking.

Thank you guys, i spoke to my tenant, he thinks she will stay if he moves out, i am hoping i can avoid an eviction.He is supposed to talk to his lawyer today, if she stays he will not be signing the lease so she cannot pay rent. 

Here, the insurance has skyrocketed due to hurricanes, taxes are up, and the property values have increased faster than rents.

Payments are to be handled by outside/3rd party escrow (mortgage, taxes, insurance, etc), vendor to be determined prior to close of this escrow.  

Also, even though we make negative cash flow, since its big house and income from house is a lot we had to pay more taxes. 

However, I also did a lot of reading and interacting with others to accelerate my learning and avoid a lot of the common mistakes.