You can summarize your transactions yearly by SchE tax category to support tax filings.Hope that helps. 

My formula is not complex... something like this:High school rating > 8"(Estimated Rent x 12) - HOA - Prop Tax - Insurance @ 0.3% - Vacancy @ 5% of rent - Debt Service @ 8%" > 0I want to be able to customize the metrics, and find properties I can purchase as an investment.If anyone is an avid user of StockRover and their custom metrics, that is exactly what I am looking for - but for real estate. 

Definitely worth chatting with a tax pro to make sure you're set up in the best way possible.

How many of you have got your tax bill for this year?

Put it on the market, take your (up to) $500k tax free gain and buy a no attachment rental if you want.

My current flow is 1) find a house that matches the configuration (X beds, Y bath)  in a certain neighborhood (Redfin or my agent)2) pull up rent data in rentometer / Zillow 3) run through my spreadsheet with expenses, taxes, insurances and etc I would love these to be automated.

But since the rentals are on my tax returns, of course it's factored in when getting a new loan. 

One rule helped here (I simplify a lot): you should always count how much money will be left in your pocket after all expenses (including mortgage payments, taxes, fees, utilities, as well as the reserve fund for the current repairs of the property).

I'm attempting to help out a friend's parents who are about to lose their home to back taxes.Is the process as simple as quit claiming the deed to me and then I pay the taxes and hold the property until they pay me back?

After that they would own a passive 40% of a rental that would pay them a tax free gain every few years.