You will be taxed on your net income (wholesale income less related expenses) at your ordinary income tax rate + 15.3% self employment tax

It ranks areas based on the following data points, obtained from the American Community Survey- Median Home Value- Median Rent- Median Household Income- Poverty Rate- SNAPS (Food Stamps) Rate- College Graduation Rate- Vacancy Rate Hope this helps! 

If we take a look at data from the most recent American Community Survey we can see just how small the numbers are. 

Considering some HELOC arbitrage and essentially buying next rental property with practically “no money down.”AHP Servicing: 10% preferred returnCurrent HELOC Rate: 4.49% variableAHP net return: say 7.5% (after taxes at ordinary income)HELOC effective rate after deducting interest (using HELOC funds as down payment on rental property): 3.05%Net arbitrage effect: +4.45% (after taxes)10-years interest only payments of $101/month.

It's not ordinary or necessary. 

I like that the American Dollar is so strong against foreign currencies.

You will have some depreciation recapture (whether you reported depreciation each year or not) and that will get taxed at your ordinary tax rate.

@Antonio CuccinielloI have two thoughts on how to solve this problemYou could pull rent data from the American Community Survey.

You can end up with more tenant disputes by doing things outside the ordinary.

Wholesaling is an active business activity, meaning it is non-passive ordinary income subject to self-employment taxes (generally 15.3%) in addition to simply being reported as taxable income.