Here is my expected cost:Land: $475kAcquisition Costs (Environmental, Survey, Geotech, Traffic Study): $25kSoft Costs (Engineering, architect, impact fees, permit, legal, closing costs, taxes, interim interest): $300kSite Development Costs: (Earthwork, underground utilities, curb cuts, fencing, stormwater, paving, landscaping): $800k ($400k/acre)Subtotal before vertical costs: $1,600,000 ($80/SF). 

They get taxed in the year they receive their money.  

Can't use bonus depreciation but could use accelerated depreciation and get most (not all) of my rental income tax free.

This means that the income from the property can pay its expenses and generate a pre-tax profit.DSCR formula: Add up the expenses tied to the property (monthly taxes, monthly insurance, monthly homeowners association dues if applies, monthly principal & interest payment.

Ensure you fully understand the tax consequences between LTR, STR, and flipping properties. 

1) Who's paying real estate taxes?

I use the rental calculator all the time to analyze deals as well as some of the other features and then write off the costs as education at tax time.

But have you ever considered how beneficial they can be as a tax strategy for estate planning?

That's how the tax man see it.

Something to consult a CPA about is the tax write offs.