We also have a Full time job, say making 100k each before tax, each liable for 33% tax on both state and federal combined.So my question is, on that capital gain of 10k, how much tax do we pay?

Account ClosedBefore giving my two cents, I’d like to congratulate you on a job well done.

Good job!

I am reviewing a property management agreement and came across this clause RE: Indemnification that seems too broad:INDEMNIFICATION:(a) The Owner shall indemnify, defend and save Agent harmless from all suits and/or other legal proceedings whatsoever and cost incurred therefrom in connection with the management of the Property and from liability for injuries suffered by any employee or other person whomsoever, except in cases of willful misconduct or gross negligence on the part of Agent or its employees, (b) The Owner shall indemnify and hold harmless the Agent from and against any costs, loss, expense or damage (including attorney's fees) suffered or incurred by the Agent arising out of or related to the enforcement of this Agreement arising out of a default or other breach by the Owner, the management, operation, improvement, alteration and leasing of the Property, including all other activities arising out of or related to Agent's duties under this Agreement or as a result of any act or thing done or permitted by the Agent or its agents or employees; provided, however, that such indemnification shall not apply to any such cost, loss, expense or damage to the extent that the same relates to or as a result of conduct by Agent which constitutes willful and wanton misconduct.It seems like if one of the Property Manager workers (aka Agent) slips and hurts himself while cleaning the floor the "Owner" is then responsible. 

She has around 16 doors herself in the area, but she has paid cash for most of them partly because of her husband’s well-paying job and then the result being the rentals cashflowing each other.

There are a few hardships which invalidates this clause - job transfer, marriage separation etc which do not apply for me.

I have 30+ properties, sales, purchases, multiple entities, different tax years, K-1's to send, k-1's received, W2 income, cap gains, cap losses, etc....To keep things simple I will give an example of the type of thing that has happened on two recent tax returns:1) It was an issue where an appraisal mattered. 

Tenants tend to stay in SFH's longer than apartment rentals, so I would assume 3-4 years, and turn over could be as simple as a wipe down and carpet cleaning if the PM is doing their job and screening tenants appropriately (although even great screening doesn't always guarantee great, clean tenants).  

I check and analyse properties every evening after my current day-job and early morning before I go in. 

I have seen many cases where it never worked out and the people had to take the huge loss and move on with no recourse.You just have to be extremely careful.