@Joaquin Rosario - Finding a broker to hang your license with is only one part of the equation.

, the timing of it all (if your goal is for the end of the year, if money is taken out of the equation, would it be easier/faster to flip or find a good deal of a property that needs some TLC, but not to the extent of a total rehab?).

house would have to be destroyed with a high likelihood in the next 10-20 years for that equation to make sense for me.

And, is it really doable to increase NOI by $6,000 and equating that to $75,000 in equity with an 8% cap rate? 

I believe all the experts believe all investment income should be included.Remember these regulations are for YOURS protection.Having a million dollars does not really make anyone qualified to invest in complex investments like...Credit Default SwapsComplex Derivatives in any form (I am not talking about the ones related to the Cauchy-Riemann Equations)CommoditiesCurrencies Just to name a few of the ones that start for "C".

I do realize there is much more to this equation than just high property tax so here is a little bit of background information on me.I currently own a house with little equity in it.

You should add whatever capital improvements you made to the purchase price and use the same equation as before. 

How do we figure this cost into the equation when looking to buy a bigger house?

I am taking a well established expense figure and plugging it into a simple mathematical equation.

"Lender's" rent credit will only be $833 per month or 10K per year which equates to only 6% of gross rents at facility.