Are capital gains taxes progressive?

Market rents from the appraisal and/or the actual rents need to cover the mortgage payment, property insurance, taxes and HOA (if applicable).4.

After all expenses I've shown a loss on my tax returns the last 2 years and it wasn't just a paper loss.

To secure the VA loan you need w-2 income in same line of work, as it will take two tax cycles to show self employed net income. 

Very high property tax rate, crazy high water bills, choking regulation, and bad tenants.

You may find buying what might appear to be a lesser cash on cash return rental asset that's held long enough to take advantage of more efficient long term capital gains tax treatment, while paired with the benefits of the depreciation might yield a better after tax return than flipping a home.

if you can manage to live in it and rehab it over time, then if you live there 2 of the last 5 years prior to selling it the gains are tax free up to a certain amount. 

But selling today might mean you get taxed on 100% of your Cap Gains.

All the benefits of living near CA but no state income tax.

(we once paid $1800 to a big name plumber in town to replace 6in of plastic drainpipe under a stand alone tub). 3) We need better understanding of the legal structure (LLC) that we should have in place for our property, and also a tax advisor (CPA) to help with understanding deductions.