You should get a good CPA to help you with the breakdown and taxes.

Obviously sponsors / GPs have to deal with insurance, property taxes etc ,I would like to know if as an LP one can avail tax deductions for property tax , insurance maintenance etc.

also where can I find lists of tax sales?

I had already subscribe to QuickBooks but this is to keep track of the rental expenses and everything else that quicken offers to be more organize for the rental expenses for tax purposes.  

Sales are public information and so are property taxes.

I need to finish taking care of all the deferred maintenance on my current properties first.How are things going on the house you are working on? 

You will need to do a Tourist development tax application and a short-term rental application.

-My tax returns look crazy because all my income is offset by massive depreciation.

It is my understanding that they use your tax returns to verify your income.

If we want to use round numbers and say that all lender, title, insurance, and taxes total $7500 in closing costs, then you would receive $93,750 - $7500 = $86,250 at closing.The clients that I work with on refinances in Memphis are all cash-flowing really well, so I love the idea of picking up another property there.