Then I learn we can move them into a land trust bypassing this 7% tax then into and LLC.

Quote from @Shravan Gali: Most attorneys are unlikely to touch your claim.

Since you have a good W2, why have the cash flow to report income and pay more taxes on?

The most helpful may be to just do a google search for her name and the address she is claiming to see if it lines up.

I am thinking Austin TX might be a good place to start due to the state's tax incentives and the recent decline in prices.

This will be my first rental property so want some advice.Purchase price - $195KDown payment - $59,176 (25% plus other closing)Annual rental income - $29,424 ($2,452 a month for 4BR)CoC return 10.7%Cap rate - 9.7%; Price to rent ratio - 6.6Cash flow will be over $5k per year after paying taxes and mortgage.

.$1m advertised at a 7% cap means the NOI is $70k, or so they claim.

Topic no. 409 covers general capital gain and loss information.The rest will be taxed, so a big chunk of that money will go to your uncle who happens to be a partner of yours. 

I'd like to one day find all the deeds on the property going back to 1857 just to get a more accurate picture. 43 years: 4,400% gain (annualized 102%/year)26 years: 144% gain (annualized 5.5%/year)6 years: 47% gain (annualized 7.8%/year)Besides Real Estate where else can you see these kind of gains, tax benefits, and leverage?

He was referred to me through my CPA, whom I also feel is worth the $425 I pay for her office to prepare the taxes and who has set me up on Quickbooks.