We had $15k between us to our name at the time so I bought a $295k patio home with 5% down (with concessions toward closing costs) and drained our accounts.

Furthermore, in this economic environment, I will definitely suggest for anyone to try to look into replacing their ordinary income with a source of passive income, and I do think that real estate can get the job done. 

If he eliminates 1031 exchanges and increases the capital gains to ordinary income, no one sells.

Anytime you do something out of the ordinary, you’re always going to have people like that, and it’s always the closes one to you.

Flipping is a taxable event, and taxed at ordinary income rate.

I also do not believe that these extra ordinary actions by the Fed won't have an impact, I just don't think it will come in the form of inflation.  

One is a condo, one is a patio home, and the 3rd has a low maintenance backyard.

The house is a 3/2 patio home in Class A neighborhood surrounded by $500-$750k homes.

@Arshad HussainIt sounds like your CPA is treating the sales as capital gains and not ordinary income subject to self employment tax.

Another odd situation you could create if you could self deal - sell an asset to yourself for capital gain at capital gain rates, then turn around and take bonus depreciation on your new asset at ordinary rates - obviously this would be drowned upon.