I hope to gain knowledge and expertise in the real estate field.

Looking to gain more knowledge about investing.

I feel if I want to get out of capital gains I need to sell or at least evict by then and remodel. 

That potential gain measured against the additional cost of your debt at the higher rate is how I would approach your question.

Also, if I do carry, would the cash amount that I would get of $35k be taxed as all gain?

If you aren t famalier with a 1031 tax exchange, it is deferring capital gains taxes to the next property that you purchase.

My parents immigrated to the US from Guinea, West Africa before I was born.

Welcome to BP community, hope all is well.What was my driving force was eating up audio books to speed up the gaining knowledge process, in return I would gather my questions faster for more deeper research.also all podcast/video-blogs from BP, listen to all of them until you start feeling a craving for a certain niche, then focus more on that new found hunger.recommended books:-Rich Dad Poor Dad-Millionaire Real Estate Agent (known as the Red book within REA's)-Millionaire Real Estate Investor (known as the Blue book within REA's)-4 hour work week-The E Myth for Real Estate Investors-Profit First-10x Rule-Ultimate Beginner's Guide to Real Estate Investing (free from BP)Good luck, you seek , you will find#keepthehustle #lifeisworthliving #notdreamingitsreality

Pete area that is willing to reach out to me, I'd be very interested in speaking with you and gaining a little wisdom, knowledge and understanding.

Getting into a large project, nothing is small and the losses can be life changing, but so can the gains!