There is positive job growth from the tech industry, manufacturing jobs from Tesla, geographically restricted building, no income tax, low property taxes, close to CA, mild weather, and landlord friendly. 

if its tax once the option is exercised tax is due at that time..

Strong job growth, landlord friendly, low property taxes, cash flow opportunities, and proximity to one of the wealthiest areas in the world (Silicon Valley).

What taxes will we need to pay besides the capital gains tax? 

Cash Flow Analysis: Conduct a thorough cash flow analysis, taking into account all expenses, including property taxes, insurance, maintenance, and potential vacancies.

Would it be possible for me to consider my down payment a business expense when I file my taxes next year and get a tax break?

Here's my question: Do I qualify for a tax deduction considering the substantial loss on the property? 

Here's why:Advantages:Predictable Cash Flow: Tenants are responsible for most of the expenses, including property taxes, insurance, and maintenance.

.), lower property taxes, and many would argue that there is more to do in BK compared to Queens.That said, both boroughs can offer what you're looking for but if I were you I'd start searching in Brooklyn then branch out for more options if you don't like what you see.3.

Yes, you get depreciation and tax write offs.