Living in the home for a couple years before selling could also provide some tax benefits.If you decide to sell the land with just a foundation, it may be more challenging to find a buyer willing to take on the project of building a home from scratch.

Maybe we can learn something from each other.One thing I am learning/going through right now is taxes and what comes with that.

I want to further expand my knowledge because I dont understand much of real estate terms, taxes, and everything in between. 

I would talk to a lender, they look at your Schedule E section of your tax returns and add back depreciation, so basically, as long as that number is greater than the mortgage, your property will be a net zero on your debt to income ratio or it will be at a positive best case and small negative worst case, so you only have to really qualify for the next property. 

Wait until you get your property tax bills for the next few years....

I was ultimately quoted a price of $10,000 to join the program, which I was encouraged to put on a credit card and ‘write-off on my taxes.’

Don't miss the traffic, the taxes, the overbearing politics and government.As for lease options, I started investing with this niche about 30 years ago and I still use various lease option strategies today. 

Anybody have some sample wording for a seller carry back mortgage note that is held inside of a tax deferred exchange? 

@William Willis  The tax sale is void.

When I do the math on renting out a property, like in Texas, for a 1 bed and bath and compare it to the median rent for the area, the rental income doesn't cover the entire mortgage, property tax, fees, etc., of the property itself.