Now my whole mindset and the path I want to take in life has changed.

Hoping to strike a moral note with wholesalers, illustrating the difficulties of their path and that exploiting sellers with less-than-full disclosure is not nice. 

@Chelsea Pfeiffer you are on the right path here, and you have a great broker to work with in @Brie Schmidt!

I do not know if that is standard around the country or is a state by state situation, but I just wanted to hear from you wonderful people about what you know about the subject of how taxes change when you own multiple properties (or if he didn't know what he was talking about). 

@Chi Ta I think what scares me the most from your question is that you have purchased two homes and that you admit not having any idea what you are doing.Let me see if I can put you on the right path. 

This includes the fact that contracting to purchase a property of which you do not have ability or intent to perform on contract is illegal in a great many areas of the country, and yes people DO get prosecuted on this every year. 

I rented a room in the house to my current Tenant for 4-5 months before I had to move across the country for work this past summer and signed a year lease with her for the house before I moved so I figured it’d be okay to manage myself for the first year since I knew her. 

I manage renovations and all physical plant projects for a company with building throughout the country.

Consider each one and try to understand the perspective each member has.You are on the right path.

I've got a long path ahead myself but nothing sounds more interesting to me than helping someone like yourself chart a path towards your dreams and financial victories.