Recently, I was working on a pretty profitable business deal and wanted to buy my first home. 

So do you profits.

And if I consider the appreciation from the held property, it'll absolutely turn a double-digit profit when it's time to sell. 

I put a disclosure that I am the principal in the transaction not taking a fee.. and I am buying for PROFIT or LOSS  … they sign and acknowledge that.. and if they want to sell for what I want to pay .. deal is done.if your think your going to tell someone their house is worth X when its really worth Y just so you can make a big spread that is greater than your commission or tell them your not taking a commission.. then that's your choice..Although do keep in mind most wholesale deals are distressed wrecked houses that need rehab etc.. and commission are negotiable.. there is no law of charging a higher commission for tough to sell properties.. if that is what your aiming to do.. 00I worked a builder out of a 22  duplex's he had built was having a tough time selling.. he wanted 30

They used to advertise lucrative rehab opportunities with them where one could invest with them and make 25% to 30% profit in matter of 10-12 months.

This property sold for 47k in 2016 so, unless there were repairs done (even taking a profit into consideration) the price is grossly inflated.  

However, I can't make these numbers work even if I lower purchase price by 20-25%.Is it possible that property taxes can be so high in a particular area it's completely infeasible to turn a profit off a rental home?

2 - Is it better to turn a profit within your first couple of years, or can you wait for year 20 to see any profits?

But he would have sheltered tax on the other $1 mil of profit. 

My next step is to flip a property for about a $35,000 profit and sell it within 4 months.