Quick question, I’m in California and will have a sizable, capital gains tax bill owed to the IRS and the state of California in the near future. my question is how quickly does the capital gains tax liability need to be paid?

What I would encourage you to do is to compare how much cash you currently have invested out of pocket in the deal and also calculate what the cash flow is for that property.Cash flow is the income (rent) minus all expenses: mortgage payment (including principal, interest, taxes and insurance), average maintenance costs, capital expenses (new roof, hvac, water heater.

Land is so cheap that if you do end up buying a large tract taxes are really cheap and you could build your own portfolio of land in areas you desire. - Double closings/Assignments - As the land market is getting saturated with other investors.

Sarah's a qualified Accountant and has always dealt with our tax affairs, in the US and in the UK, so it makes total sense for us to take back control...

I suspect these are legitimate calls trying to find housing for the influx if migrants in the area.

A $500k place renting for $3,500 but $500k at 6% is $3,000, add $100 for insurance and $300 for property taxes and you’re offering to buy the place they are renting to you for $3500 for a $100 less than the rent. 

If you have been working on it but not listed anywhere, you can't deduct any expenses until next tax cycle.Also, I would highly suggest you get yourself a CPA that can help you.

No property taxes. 

I am not opposed to flipping, but I need to educate myself on the tax implications first.

As far as taxing goes.