Yes, you will be required to pay income taxes on your withdrawal based on your year-end income vs expenses.  

@Antonio ResendizI analyze based on the return that we are getting with our investors' money. - Annualized ROIFor Rentals that we hold in our portfolio, that were perhaps once BRRRRs, I analyze based on ROE - Return on EquityI used this equation to back into my maximum allowable offer (MAO): ARV - Rehab Costs - Holding Costs - Purchase & Sale Costs - Desired Profit as a percentage of ARV = MAO

Consider consulting with a real estate professional or financial advisor to help make an informed decision based on your individual circumstances and goals. 

@Joshua Logan I'm out of the Mankato area, we invest in Section8 apartment buildings (Project Based HUD properties).

At this stage, based on your post, you would wait until its listed then contact the listing agent to purchase it.

Other than a post or two on social media I haven't done anything else for lead generation and to build a client base.

Establish the value based on your own market analysis.Your property is a rental once it is placed in service - typically the date it is advertised as available.Check your home owners insurance policy and make sure it covers rental operations - I expect it does not.

We have about 50 properties under management in Kissimmee and Davenport, and can definitely help you with a step by step guide based on our experience.

Make your offers based only on what works for you, not what it takes to get the property. 

We may need to make another trip to go check that market out.No worries, if you ever want more advice on the market , I am happy to offer some of the knowledge based off experience.