I have looked up the MLS and tax account information and have found the same information.

and if you really want to get into the weeds, interest is tax deductible.

3- Are there any tax consequences of which one should be aware?

I read the forums as much as I can, and there is great information here, but I'm still a little shake when it comes to the financials and taxes.

Just set your tenants on 6 month leases and update the rents twice a year if it worries you that much.But if there are more restrictions, like a city-wide proposal that only allows you to increase the rents 3% per year, be on the watch for a MAJOR retaliation from landlords city wide.Here’s the thing about business-minded people… you can’t tax them.

you can sell the one you lived in and pay no tax.. as it was owner occ that's appealing. other wise its really personal decision and you will get 17 different opinions on what to do on this site that's for sure. :)ya we sure hate that gambling for appreciation.. but some folks have to live with it.. good job.

Never mind that the property is located in Baltimore MD but after looking at the taxed assessed value of 227K I have absolutely no idea how she got to that valuation.

Good Evening, I purchased a tax lien a couple years ago for a vacant lot in Sarasota off of Fruitville Rd near Bobby Jones Golf Club. 

but I will take a guess at what your askingif the developer is going to bust this into lots and you stay in you just lost your tax advantages and will be deemed a dealer at the highest tax rates.sell now no risk.. and best tax treatment you could 1031.if its one property and your saying should I partner and they are going to build an apartment on it and we will keep it.. that's different.. but you lose control because your now going to put a massive amount of debt on it.. all though in your area not too risky given market conditions.. and really depends on your developer  known, reputable and stable ?

Plus...escape velocity...Episode 113 – Jay Papasan - Very practical slow and steady adviceEpisode 221 - Tim Shiner - his concept of equity build up and "shearing the sheep" shows some of the flexibility of real estate vs a 401k Last but not least, I also recommend all the tax advice given by my fellow CPAs on the BP Podcast.