I own a victorian house that was fully gut renovated/modernized 18 years ago.

He was a flipper with a TV show ten years later.The best way to build a business: determine what the needs of the community are, then find a way to meet those needs.

Not a lot of old school forum-type websites around that still attract a crowd! 

Way less fees, you could stretch it over 6-8 years, etc. 

Set of facts:- Lived in a residential unit as a primary residence for a number of years.- Converted to rental and depreciated it for 2 years.- Sold in 2023.- Purchase price: $250k- Sale price: $350k- Depreciation: $9k => Roughly ( ($250k*.50)/27.5yrs) *2yrs)- 2023 marginal bracket: 32%What is the proper taxation?

Then a year later I plan to purchase another property with a goal to make me 5k a month in cash flow.

More than likely its a 3 year or 5 year prepayment penalty - So you cannot sell it or refinance for 3-5 years. 

Typically given 30 days advance notice we can find a tenant and fill the unit within less than two weeks of the old tenant exiting.

He has been investing there for years, and he also wholesales properties in and around Utica, to include Syracuse.

While we have not yet secured our first property, we have spent the last year+ educating ourselves, networking, driving for dollars, and substantially reducing our debt load.