Hi, if my wife becomes a real estate agent in New York (we live in NY) and we buy properties in other states such as Florida or Georgia, can we use segregated deductions on houses we buy outside of New York in order to pay less income taxes from my earnings?

I'm trying to learn more about capital gains tax when selling a rehabbed home or refinancing for the equity.

Every day I wake up to look at Google News and there is at least one article about Foreclosure, or Fixed Income Tenant can't stay where they have been from before the Covid or the Widow who has lived in the 2/1 house for 50 years cannot pay the increases in Property Tax, Home Owner's Insurance, Lights, Water and everything else.

Worst case the irs says he should have charged interest and he owes $20-30 in taxes. 

Question is will this state income tax lien survive the foreclosure?

CPAs that really know the back and front of not only fix and flip but investing write offs/tax liability. 

Seller financing still implies a transaction and therefore a tax event.

Think of it like the escrows you likely pay your mortgage servicer for Insurance and Taxes, or your estimated taxes to IRS.  

Tax BenefitsIf you are down one but up the other three, it can make sense.

Our current focus is working on 1-4 unit fix and flips, but eventually work towards being able to refinance properties and keep and cash flow them.My question is  tailored on the the way I should structure our relationship for the legal and tax base purposes.Should I secure the deals under my business and pay my partner out of my business operating account?