Somehow this doesn't sound like a hypothetical scenario, but that being what it is you will need to access the Federal Bankruptcy code and other authoritative sources to get your answer.

Vanguard Prime Money Market account pays 2% taxable interestMunicipal bond fund depending on your state income tax and your income pay 6 to 8% tax free.

@Vanessa FrancoAs a landlord, I assume you know that rental expenses (maintenance costs, property taxes, insurance, mortgage interest, depreciation, etc) are deducted from gross rental income to come up with net taxable income.

However, my federal effective tax rate is typically below 3%. 

btw, I have an accounting degree with a concentration in Federal Contract Law (never took a tax class). 

. $265k we'd owe tax on.That being said, would it be possible to offer over ask but have the seller pay all closing costs (from the above ask difference) as a strategy to reduce the taxable gain? 

At the federal level there aren't any compellingly special FTHB mortgage programs out there, and the state ones tend to have very "meh" terms/conditions, such that you will typically pay out more in extra interest than the sum total of the down payment assistance they gave you (how else could these programs be funded?).

The reasoning is because my taxable value of the property would be around $400k and I would have to pay $40k per year in property taxes alone.

Federal judges have a DGAF attitude to interlopers.

Hi,Does anyone have any experience with the FHLBANKNY Federal Home Loan Bank - New York rates and how to access?