Who is responsible for real estate taxes between the time of the sheriff's sale and the end of the 6 month redemption period?

Immediate effect on some investors will be the 100,000$ itemization cap for single fliers (200k for married.

Keep in mind that there is a rule which allows you to exclude $250k for a single person or $500k for a married couple from your Capital Gains when you sell the house.

The first deal has turned out to be pretty good so far, although it took a while to get it to where the money coming in wasn't going right back out to things like the initial property tax payment, and so on.  

@Chance CooperIt is not uncommon for your primary residence to receive discounted property taxes (often referred to as a "homestead" discount/rebate/rate/exemption) - in some places it s different rate; others a portion of the tax is either not levied on owner-occupied property or is refunded to the tax-payer.  

We got married last May and are in our early 20s. 

I'm guessing that because the couple file taxes as married/filing jointly, more red flags would pop up in the IRS system than you could shake a stick at.Seriously, I have no interest in scamming the IRS.

If it was your primary residence two of the last five years you can defer 250K if single or 500K if married.

I grew up in Michigan (Detroit suburbs), graduated from Michigan State University, and lived in Chicago for 10 years before moving out to California.I just got married about a year ago and my wife and I have spent a lot of time since, working on getting our finances in order and making plans for the future.

We're two newly-married young professionals who have only been interested in real estate for about 4 months, but are extremely intrigued by the ability to build sustainable wealth and have more control over our financial health.We've been listening to BP podcasts and scouring the site and forums for all the information we can for a few months, but decided it was finally time to get engaged in the community, especially with the past week we've had.