alright im 22 years old been involved with real estate. gonna buy my first house pretty soon and short there after gonna purchase another one.. i was wondering what has to be done with profit made on renatl income.. say i rent for 1500 and my payement is 1000 how do i get around paying taxes on the 500..positve cash flow.. let me know any suggestions

Unfortunately there's no magic bullet for avoiding income taxes from rental agreement income.
There are, however, a lot of tax deductible expenses in real estate investment, ranging from mortgage interest to depreciation to hazard insurance, etc.
I would hire a very good real estate accountant to prepare your taxes, who will take advantage of all the tax write-offs, not all of which are straightforward or well-understood.
Here's an article on real estate investing tax tips, to get you started, but it's no substitute for hiring a good accountant.
Best of luck in your real estate investing venture, and I think you'll find that taxes are the least of your problem when it comes to real estate investing, as it'll probably take you a few years to get the hang of it to the point where you're paying the big $ in taxes.
Cheers,

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Brian
Rental Agreement