Taxes are KILLING ME!
I desperately need to purchase a rental property to reduce my taxes. Finally to the point where the cash flow is good but taxes take a huge chunk. Not sure where I start because I want to retire within the next year or so. How does/will retirement affect my being able to purchase investment property? Once I retire, I want to be able to have income generated to replace at least half of my salary then the pension and social security make up the rest. The area in which [DC/MD/VA] I live is quite expensive for investing so I'm considering a seasonal rental property at the NC/VA beaches. At least that way I conceivably could be a snow-bird and winter there. All thoughts and suggestions are welcome!