Make sure and have lots of money in reserves when those tax bills arrive, A/C breaks, roofs need replacement, etc. 

If so then the proceeds are tax free and they can invest or not or spend on a new primary as they choose.If they do not qualify they can do a 1031 exchange for another investment property - not a primary residence initially.  

Tatiana Gershanovich , assuming the house and land are owned free and clear, you can pay a surveyor to create a print showing the house separated from the land and the surveyor or you can file with the county for a new tax parcel ID.

Usually you can see permit applications, taxes, value, sales history, etc., but it won't show you property manager info or violations.

And that is split with your brokerage, and what you get is taxed as self employment income, which remember has a higher tax rate than a w2 income.Other costs with your license are mls dues, sentrilock/suprakey dues, Realtor association dues, e&o insurance, continuing education classes, possibly desk fees from broker.

It still seems like I could roughly break even on some of these properties, taking into account mortgage, property taxes, PMI, expenses, vacancies, etc., and I'd certainly benefit from the relevant tax incentives and would be earning equity, which is great—but is that enough?

Not to mention the taxes on condos are much lower than single-family homes especially in the Chicago area where I am at.

In FL, I believe RE sales associate can form business entities for tax purposes but it must specifically be the name of the person such as: John Smith, LLC.

My question is Are there any tax breaks with purchasing a home.

Also, you get taxed as a short term capital gain which eats up a ton of profits.