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.

(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.

It is very hard to find a lender that will help include this income prior to it being on a tax return for 2 years.

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

I am looking to purchase a property in 35749 zip code in alabama, am trying to calculate property taxes and insurance, I got some estimates from my realtor ,just want to do my due diligence and check them, am using the below to calculate the property taxes, it shows .45% and do you have any contacts I can call to get a property insurance quote?

However, the tax basis will be a low $770,000.

Those tax savings could out way the benefits of renting.

Short term capital gains is your ordinary income tax rate and long-term capital gains where you hold the property a year or longer is considered long-term capital gains is in as taxed a lower rate.  

At least I will build equity and have some tax advantages, or even pay a lower price as a result of the high interest rates.

Just trying to see best way to play the tax game.