I just finished my studies to become an emergency medical technician.

There's no statutory holding period which makes it a touch ethical exercise for you and a moving target to hit for IRS compliance but make sure your intent is to hold the property for productive use and not just to fix it and lease it to sell it.

I am wondering, if I kept some of the proceeds out to help pay for my dad's medical bills, would I pay taxes on the entire net amount from the sale, or simply the amount I keep?

I will be buying a plane ticket on my 18th birthday to come to the US, and get a degree with the hopes of medical school, and an eventual career in anesthesiology.Ideally I want to take on a few mortgages, and pay them off with rental income from those properties.

It’s a great way to learn more while doing other things such as exercising, driving, etc.Get involved with a local REIA groups.

That can be put towards the down payment when they exercise the option or forfeited if they dont. 

About I week ago I served from previous owner asking that the city rescind the sale based on financial and medical hardship.  

I may end up doing something like that, but probably not UHouston, but rather a medical school or something.

This could be a good exercise to learn the logistics associated with the DOB court.I'm not planning on excavating.

It’s a great way to learn more while doing other things such as exercising, driving, etc.Get involved with a local REIA groups.