I'm moving forward with flipping and not stopping anytime soon.Would like to set things up the right way, as soon as possible as well a CPA to make sure my taxes are on point.

Not only do I want to avoid paying taxes on that money, but we want to invest it as well.

@Ty GlendenningWhy would you sell a house on owner financing if somebody would pay cash for it.While a lot of people think, seller financing is a great idea, the risk involved to collect the payments that then get taxed ordinary income are equivalent to investing it currently in a treasury bill, which has zero risk.

Anyway, they have charged me $75 for "tax processing fee 2023".   

(old clients, new leads, random tax record lists (FSBO, Pre foreclosure etc) You can do this remote and just book appointments for anyone in the real estate industry. 

I’ve qualified as real estate professional since 2021 and just found a potentially good opportunity to acquire a property in Mexico that would make for either a solid STR and/or eventually our forever home.I’m completely new to acquiring a foreign property- how to finance, what purchase process looks like, how foreign STR is taxed, does real estate professional status matter, etc. 

Quote from @Madhul Shah: If an individual purchases a rental property and incurs expenses for property management, maintenance, and mortgage interest, how are these expenses typically treated for tax purposes, and what impact do they have on the individual's taxable income from the rental property? 

Very good tax climate, and landlord friendly combined with strong economic growth with tech companies like Apple and google building data centers, Tesla is building the semi-truck factory and a exodus from CA of people all point to strong signs of appreciation. 

But they won't typically cash flow at all at 20 to 25% down, especially with the significant rise in property taxes in Madison.Which zip code in Madison? 

I know I will take a penalty and pay back taxes.