The fix and flip strategy sounds great since you can refinance into a conventional mortgage with some equity, and not worry about making it your primary residence, or staying in it a year. 

.- Explore strategies like 1031 exchanges to defer capital gains taxes.Deductions and Expenses- Know eligible deductions: mortgage interest, property taxes, insurance, maintenance, and management fees.- Maintain detailed records of all real estate-related expenses.- Use cost segregation studies to expedite depreciation of your properties to offset large income gains.Entity Structure- Choose appropriate legal structure (LLC, partnership, or S corporation) with consideration for different tax implications.Tax Credits- Explore available credits, like energy-efficient or historic rehabilitation credits.Qualified Business Income (QBI) Deduction- Check eligibility for QBI deduction, providing up to a 20% deduction on qualified business income.Record Keeping- Keep accurate and organized records for tax compliance and audits.State and Local Taxes- Consider varying state and local tax implications, including property and income tax rates.Tax Planning- Engage in proactive tax planning, consulting with professionals for a comprehensive strategy.Tax Changes- Stay informed about changes in federal, state, and local tax laws affecting real estate investments.Remember to consult a real estate tax professional for personalized advice based on your specific situation.

You say you paid $500 and took over the mortgage.

The souther area will have less (as the county tries to maintain a healthy housing stock for workers who might commute from just outside of Boulder proper into the city.)-- They also did away with one of the "types" of licenses.

I have to say if folks is good in managing portfolio of stock and do proper hedging, they can make more than real estate.

Owning a Land and paying mortgage, insurance and taxes are passive loss for me. 

In your contract it should be marked off what kind of sewer system you have on there.Also, if you're removing the tank, it's important it is properly removed and an environmental test is done to make sure there are no contaminants. 

Assuming $2,150 for rent$933 (mortgage, from zillow & his statement) + $96 (Home owners insurance) + $592 (property taxes) + $86 (repairs, 5%) + $129 (vacancy, 6%) + $150 (Capex, 7%) + $172 (property management, 8%) + $71 (HOA) = $2,229.  

They can’t review the “hot” deal their broker just sent them because they’re too busy categorizing emails in color coded category’; they can’t attend the on line networking session because they need to switch over to a more detailed CRM system; they can’t visit the property going up for auction because their scheduled weekly garage cleaning is running overtime…..The Educator – This person never feels they have enough knowledge, experience or education to properly evaluate an investment.

Properly structured means that there are provisions to handle disputes and who has what responsibilities inside of the company.Could we buy a property > $500k a year out of college with two streams of income?