It was breath-taking”…nearly 50% of the revenue” would go to State, local and Federal taxes. Paid 2 ½% to listing and shopping for agent each. The yr you sell the home, it’s a must to pay tax so the federal government can ‘recapture’ all of the depreciation you claimed over the last X years that the property has been a rental. Which means that even lawyers in my area the event you purchase a home for $600k and sell it for $550k, you may still owe taxes if you have been depreciating it for a number of years.

N, amino terminus