My current average rate is 7.4% but obviously that gets lowered with each loan that does not get paid off. 

I don't know any of them and don't want to just start buying them without recommendations from people that aren't trying to make a buck off of me.

I am wondering if anyone has ever bought properties off Mississippi's delinquent property list.   

Just send your RTR rep a message and we'll get you on the right track.This is an excellent loan option that will allow investors to scale quickly and maximize tax benefits!!

Do I then need to pay capital gains tax on the $550k amount or not?

Did you claim the your rental income from your current duplex on your taxes? 

Hello,  I have heard so many stories about wholesaling to start off and it sounds great but I never hear about the situation when you don't have a buyer and are stuck buying a property that you don't necessarily want.

Am in agreement with @Theresa Harris ... rents should be raised, if not to market rate, to at least cover the mortgage and real estate taxes and HOA expenses. 

To really reap the benefits of your ownership of the NY property over the years you'll want to sell and do a 1031 exchange whilch will allow you to reposition your real estate anywhere in the country and into any type of investment real estate --- without having to pay tax on the profit from your sale or the recapture of depreciation. 

The goal is to use post-tax dollars in order to avoid paying taxes on the gains.2.