The K1 has all of the profit listed on line 1 as ordinary business income and does not seem to reflect long term cap gain tax benefits. 

So you gained 50 buckaroos a month but are down 2,550.

I really like the idea of buying and holding since I have lots of time to gain equity.

If I sell an asset in Georgia and I am a resident of Florida do I owe any capital gain taxes in Georgia?

I want to make an offer on a REO using a LLC (or whit a S Corp ) as a purchaser, once they accept the offer I will sign on behave of the LLC in order to get the contract, now that I secure the deal I will talk to my possible partners (I have already 6) investors to join me and I will let them close using the same LLC but at this point I will transfer it to them for a finder´s fee plus we will draw a JV agreement in which will state that we will split the profit at 50% on this way they will have the security on been on title and I will get the security of gaining my profit.Can this be done on this way  ?

Would the property gain margin really be that big ....

We haven't tried bringing private investors and third-party money because we want to gain more experience before doing that; we also have enough capital to invest for ourselves, as long as we can get financing to get a higher cash on cash. it just doesn't make sense to go hundred percent equity into rental property. 

You'll receive a stepped up basis on inheritance so no gains and no need for a 1031. 

BP is a great place to gain a lot of knowledge, I really appreciate everyone's input into it!

An owner may already know that and begin looking at a gain over depreciated carrying value, need to recognize that as well.