Consider speaking with a CPA as well on how to better structure your investments. 

You definitely want to check with your CPA, but in my state, if you lived in the home as a primary residence for 2 out of the last 5 years, you will not have to pay capital gains tax and can roll that equity into your next property.

That is usually done by having your own CPA, Attorney, or Registered Investment Advisor (someone with a license) write a letter stating that they have reviewed your financial statements and/or income statements and that you are indeed Accredited.

We might have thought about getting a CPA or someone else to make the P&L from his records or something else that the lender would accept.It's important to keep your feelings in check during due diligence.

@Sergio Rodriguez your CPA mentioned is likely the Depreciation Recapture but we'd need more details to be certain. ...

Please do not comment a recommendation to seek advice from a CPA or attorney as that does not add value to me or others.Thank you,

I am currently trying to identify Real Estate savvy CPA's in the location where the rentals will be as I am a resident of Texas and not NY and I am new to real estate investing. 

I'd sit down with a real estate savvy CPA and go over the numbers.

I'd consult a qualified CPA.

Again, my opinion, I'm not a CFP, advisor, or CPA here.