(Kind of a gamble in case it took months)

@Michael CabañaCapital gains tax does not normally reach 40%Federal capital gains tax rates range are either 0%, 15% or 20%There is potentially another 3.8% NIIT for those who are high income earnersCalifornia's tax rates range from 0% to 13.3%The options normally to avoid/defer taxes are 121 exclusion, 1031 exchange or QOFBest of luck

Flooring, countertops, paint, ceiling fans, stole all the mini blinds, ect...They considered that "normal wear and tear" and denied the claim.I then get a letter saying they are dropping coverage for too many claims thus putting me on a wild goose chase for insurance 1 month before my annual renewal. 

But any normal rental does not pay self employment taxes. 

VERY few ever achieve it Then ones who do it in a couple years are few and far between Your comment about paying taxes on flips reminds me of the guys I used to work with who would not take overtime because they said you just pay more taxes so I took all the overtime and everybody else’s overtime I invested the money in the flips and quit the 9 to 5 and retired at 47 30 years later they are still refusing the overtime and still working at the same jobs  I made my choices   You will make yoursI am guessing you are in your 20s   10 years from now you could be semi retired or you could still be here on BP taking about doing something   I hope you choose the later   Of history tells us anything you probably won’tI hope you choose to NOT be normal/average I made my choices You will make yours 

The parcel was super cheap and I bought it on a gamble without much due diligence.

We own a condo apt in PR that my father in law is moving out from normally properties are rented at $900.00 if we refinance our payment will be around $300 to $350. 

So this is a calculated gamble, if you think the market is going to continue to grow over the next 3 years, then even if you cashflow 0, the appreciation would be tremendous. 

Due to COVID madness, all properties are performing well today, but the market will return to "normal" conditions.

@Marian Smith I'm not sure "normal" has a definition. 2008-2010 wasn't normal either.