Other's above have given you some other points of consideration to determine what the tax rate will be. 

I wanted to tinkering with them for when my portfolio grew large enough.Another consideration is that I may be taking over management of a bunch of rentals and so wanted to make sure I knew the ins and outs.also with the likelihood of going back to corporate, I may be super tight on time as it's unlikely that I will be just 9-5.it's likely I'll go through them all but was looking to see if any had insight to help speedball my learning curve some.thank you for taking the time to share your process, there are certainly some considerations that I've missedQuote from @Nathan Gesner: Quote from @Alex Lee: If you upgrade to a PRO account, RentRedi membership is a benefit for free (actually $1 to sign up).

As I understand it, if you have considerable hours managing your own property (I think it’s currently 750 hours per year) you can claim real estate professional and take losses against w2 income.  

We just went through that where we had a house under contract and then the seller talked to a friend that said the property was worth considerably more and talked the seller into backing out two days before closing. 

That being said, you don't necessarily need to have the next property lined up to see the value in extracting the cash ahead of time especially as rates continue to rise. 

Though, there is no doubt that a significant and shift has occurred in the latter half of 2022, primarily driven by the fastest-rising mortgage rates in decades.Single-family prices in Austin are still well above their pre-pandemic levels:If you’re a buyer, then you can expect some sellers to take a break over the holidays and into early 2023.

Their mortgages are fixed and they haven't lost their job yet, the rise in new mortgage have no affect on older rates); I don't expect a crash will result?  

Great considerations. 

However, the market is looking really promising in general in terms of appreciation across neighborhoods for the foreseeable future for a lot of reasons (neighborhood growth, steady population rise, pockets close to downtown that are still underdeveloped). 

Whether big or small, these factors should always be taken into consideration before making an offer.