Rented at top of the market and was able to sell after 5 years of generating 30k annually, at a rougly 125k profit above what was spent to purchase and renovate.

Set of facts:- Lived in a residential unit as a primary residence for a number of years.- Converted to rental and depreciated it for 2 years.- Sold in 2023.- Purchase price: $250k- Sale price: $350k- Depreciation: $9k => Roughly ( ($250k*.50)/27.5yrs) *2yrs)- 2023 marginal bracket: 32%What is the proper taxation?

I own a victorian house that was fully gut renovated/modernized 18 years ago.

Then a year later I plan to purchase another property with a goal to make me 5k a month in cash flow.

Not a lot of old school forum-type websites around that still attract a crowd! 

We have been flipping for about 10 years in U.S and we definitely understand that there may be many rules, laws and regulations limiting the ability to flip for a profit worth the effort.

That's on a 20 to 25 year term loan. 

@Michael AblanI have used Lawrence associates (Jan) for many years.

So over 2 years ago I bought my first investment property.

Typically given 30 days advance notice we can find a tenant and fill the unit within less than two weeks of the old tenant exiting.