Also, if you would be able to give your opinion on if either of the deals looks like a good option for what we are trying to do, we would be so thankful for that as well.Thank you so much in advance for any time you can give us.Deal #1: 8 Broad Street, Winter Garden, FL 34787 - https://www.trulia.com/property/1061556577-8-Broad...Deal #2: 412 Desoto Street, Clermont, FL 34711 - https://www.trulia.com/property/3241875418-412-W-D...

Hello @Andrew CookThat could be a very hard question to answer since it seems to be very broad.

or does the tax on capital gains vary based on where you land in the income spectrum?

Note about "Education": While I certainly understand newcomers desiring education from the group, that sort of broad-scope education is best found from books.

@Audrey Ezeh  Average length of ANY home ownership or property ownership is 7 to 10 years. .across the spectrum  we all buy and sell.. buy and hold for 30 years is pretty rare.. but it does happen of course.

I do not think that broadly individuals will not want to purchase or own a home, I think it will simply not be possible for many without the help of family.

there are a couple "rules of thumb" that people use around here.1. mortgage payment should be half of rent2. rent should be between 1 and 2% of home value3. subtract 10% of rent for vacancy, 10% for capital expenditures, and 10% for management fees (basically subtract 30% from rent, but the 3 numbers vary by location) and the difference between that number and mortgage is your cash flowthese are very broad heuristics that vary wildly by market though. if you are interested in learning about real estate investing, spend a lot of time reading these forums and podcasts. you can learn a lot here.

I like the idea of just selling it, simplifying my finances, investing in broad market index funds. 

i heard of Broad financial, Udirect IRA Services, entrust group and IRA Services Trust Company. 

The other end of the spectrum are investors who do the buys/rehabs themselves (more time / more return).