if you can manage to live in it and rehab it over time, then if you live there 2 of the last 5 years prior to selling it the gains are tax free up to a certain amount. 

Thanks to the Cost Segregation Study, the property investors accelerated the depreciation that the first year depreciation was approximately $182,900.The use of the accelerated depreciation strategy helps real estate investors to reduce the tax liability immediately which therefore increases their bottom line due to the offsetting of income.

You may find buying what might appear to be a lesser cash on cash return rental asset that's held long enough to take advantage of more efficient long term capital gains tax treatment, while paired with the benefits of the depreciation might yield a better after tax return than flipping a home.

(we once paid $1800 to a big name plumber in town to replace 6in of plastic drainpipe under a stand alone tub). 3) We need better understanding of the legal structure (LLC) that we should have in place for our property, and also a tax advisor (CPA) to help with understanding deductions.

It is very hard to find a lender that will help include this income prior to it being on a tax return for 2 years.

But selling today might mean you get taxed on 100% of your Cap Gains.

I am looking to purchase a property in 35749 zip code in alabama, am trying to calculate property taxes and insurance, I got some estimates from my realtor ,just want to do my due diligence and check them, am using the below to calculate the property taxes, it shows .45% and do you have any contacts I can call to get a property insurance quote?

The third building is on its own piece of land with a separate tax ID.

However, the tax basis will be a low $770,000.

Those tax savings could out way the benefits of renting.