-Julio Hi Julio, Thank you for responding.What is Engineered Tax Service?

You did not account for property taxes. 2.

Assuming cost segging a rental is the only way:condo or townhome/SFH with NON depreciable landnewer property/fixtures vs older propertyNOT a pro newbie landlord vs REPself manage or prop. mgmt. co.GOAL is biggest tax bene.NOT best cash flowing deal

Do I get tax breaks as well getting a cash refinance loan? 

Your contributions this year come out BEFORE tax.

I'm a former CA resident and moved to Nevada (Lake Tahoe / Reno) because the housing is less expensive, no income tax, landlord friendly, and one of the lowest property taxes in the country. 

The money you make is tax-free if it's your primary 2 out of the last 5 years (if you rent it for a while, I believe there are some taxes, but it's prorated on time based on what I remember - not tax advice).

You give the vendor the completed 1099 and you report it also to the IRS in your tax filing.

Fewer than 5% lose their entire deposit or leave owing something.

He is also wondering if the taxes would be less if he just sells the property outright.