Taxes have been properly filed each year to account for the rental income, however the first house listed has not been shown on taxes yet because we do not file this year's until next April.  

I provide a bank savings account at a bank nearby the properties for them to deposit their checks/cash/whatever.  

Later, it's sold and I receive 20% of the net profit.This is purely a money deal on my end (no involvement in rehab or rental).Question - If the property sells quickly (say, within 3 months), and since my profit is paid through a security agreement (I never have title to the property), how would this be treated for tax purposes?

Only about 5 months ago a got a good job instead of part time construction jobs so I'm just now able to start saving money. 

Also, if this is a refi, there shouldn't be a transfer tax/survey on the loan.

- Owe taxes?

Work on getting that credit up, building your savings, looking for a house hack, work in the real estate world, continue to learn and share your successes with your friends.  

Michael or Bob at Swaine & Harris P.A. is likely the best firm in FL, they cost a bit more up front but I highly recommend them because you'll save a lot of money on the back.

I'm young and hardly know anything about taxes in real estate.

Also if I were to prepay the entire term of the lease at once, could I apply that to the single years taxes, or does it need to be taken over the course of the whole lease (3 years)?