Anything y’all do that makes tax season easier?  

I'm a little confused about deducting real estate taxes.  

I'm also hesitant to bet heavily on permanent tax deferral strategies (e.g., "buy, borrow, die") as a lot could change about the tax code over my lifetime.

I would get out of that note as soon as possible to avoid any further charges, 10% in extension cost is the most I've seen recently.

Are there any hazards that need to be avoided or assets to the property to exploit?  

They may even start an actual audit of your tax return.What about private lenders then?

I recently received a letter from the tax assessor explaining tax assessed value of the property increased to the purchase price I paid for. 

-House was not in a trust- as I understand we will need to pay taxes on gains (parents bought it for about 12k in 1969, zillow says about 150k today)-House is not MLS-ready. 

If I can avoid using my own capital that would make me sleep a little better at night.

What’s more, doing a detailed market research, making a feasibility analysis, getting to know similar minded investors through networking are some of the ways that a person venturing into that field can avoid pitfalls.Good luck!