Nuisance liens & back taxes on Jacksonville property- for FREE!

[Rick Camacho]

Hey BP community!  I am in negotiations with an Out of State property owner that is trying to get out from under a property.  The owner and spouse bought into a property several years ago they found on eBay.  Anyways, they didn't know until afterwards that there were five years of back taxes due on the property.  Not concerned about the details of how and why they bought this but an opportunity has come up, I think..

Property is vacant and they are just racking up the unpaid taxes and nuisance liens and now they want to give me this property- JUST TAKE IT!  I plan to but have never dealt with this type of situation so am asking for advice from any experienced investors out there that don't mind chiming in.  

Property is vacant and needs work, not sure how much because I am not going to waste time visiting the property until I get a signed contract back from them, which should be in the next few days.  It is in a rental neighborhood which average home values are between $50k-$60k and rents average $700/month.  

The total taxes due to clear title are $18k and I plan to work on negotiating it down.  I think that if I can come out of this and produce a nice rental and stay within the $50k-$60k range that this would be a great income producing property.

What does everyone else think and what other things do I need to consider given the details I have provided?