Any tax experts know if this is true or not? 

Do you do taxes for CA?

Is the $775K inclusive of the closing costs, transfer tax, land, architectural drawings, engineering drawings, township approvals, legal fees, holding costs (during construction), realtor fees? 

I invest and help others invest in Cedar Rapids, Iowa and know a couple neighborhoods where the tax assessed value is lower than other neighborhoods (same house), but just have a poor stigma/border thriving neighborhoods, so the spill over is and will continue to push into these neighborhoods.#4 You can take this questions 2 ways. 

If so, you get the personal exemption of avoiding taxes on up to $250,000.

It’s crucial to ensure you’re compliant with your city’s requirements, including permits, taxes, and safety regulations.Ok - that was just a stab at it. 

Yes, rental income is taxed as ordinary income.

Leaving me with a payment including taxes and insurance of about 1600 a month for another 30 years.

The same holds true for tax lien sales.

In addition, what will happen to the tax write off since both properties are paid off?