but the only way to reduce the actual tax on the flip is to hold it for a year and declare it a rental.

We have reduced our water consumption by 15,000 gallons per day, just by finding and fixing leaks.  

I am a licensee so I would receive commission acting as my own agent which would potentially reduce the price 1.5%.

By paying down more principal it reduced the risk that higher interest-rates  presented.  

@Adam Schroeter I work in the medical field so I'll be based at the Naval Hospital Pensacola, so looking for duplexes nearby @Arianne L. what's the price range?

Want to reduce your competition further - take on rehabs sane people will run away from.

As of now the preference is for medical office space but professional office, industrial, and retail uses will also be strongly considered.  

There is no "rule" for reducing or adding bedrooms to a residence.

I owned my own flooring business until I had a major medical problem that took me out of work.  

So Those capitalized expenses do reduce your net profit.Unfortunately though, if you do a 1031 exchange as @Drew Reynolds, you must reinvest all your cash proceeds and purchase at least as much as your net sale in order to defer all tax.