Will I pay any taxes on that $10,000 at all in this scenario: federal/state/local, and/or depreciation recapture taxes?

@Jordan DeschampsLook into the newly gifted to you by the Federal Liberals through brutal spending and increases in taxes first time home buyer program.

My question is what are the benefits of a local bank or credit union to a large bank like Bank or C.U. like of America or Navy Federal?

However, you still want to be extremely careful here especially involving a federally insured mortgage. 

Originally posted by @Ben Feder:@Scott Mac thanks!

@Ben Feder Google street view is a huge help here, also if you mark them yes/ no through a place like Redfin you'll see patterns start to emerge, as I said before a firm budget also helps, because it doesn't let you stretch fantasies too far.

For federal tax purposes, and also for most of the states , you will pick up the income from the property in the single member LLC at the individual level.

When I say, this is where my money comes from, they all seem to say yes, I can handle that, but then they do not.I know I need someone who can handle taxes for Trust money, Roth IRAS, regular IRAS, a real estate business (definitely work more than 750 hours a year and its my only business as I am retired from other job) involving buying foreclosures, fixing them then renting them, and federal retirement funds. 

I was told by the custodian of the 401K, that I would pay approximately 27% federal taxes at time of withdrawal and at the end of the year city and state taxes.

It must file the appropriate forms with various state and federal agencies monthly, quarterly, and annually.