Also for the ridiculous management salaries that are paid by taxpayers.

Cost basis the lower of adjusted tax basis or FMV on the date you place the property in service, which for most taxpayers, you would use your adjusted tax basis.Depreciation recapture will be reported in the year you sell the property.

One I didn’t see listed is the Federal Government. ...Meaning taxpayers, most especially those in taxpaying provinces.

WIthout reserves you will end up losing the house and if foreclosed taxpayers like myself will eventually eat the difference.

As I mentioned that I have invested around 150k that is (sum of (all expense, principal amount, interest and property tax payment, HOA, Landlord Insurance) - rental income).Out of this $150k , I have paid out around $127k for interest and property tax.

When those loans go bad, it's the family or the tax payer who will be footing the bill for living expenses beyond social security.  

(Taxpayer Relief Act of 1997created IRC Section 121)Thus the likelihood of making the cut is slim.

I've acquired my county's list of delinquent taxpayers.

My list is a mix and consist of delinquent tax payers and home with equity.Please share your success and what you have found that works.

If engaged in on a regular or repeated basis, the gains from such a business activity are taxable even to a tax exempt entity like an IRA or other non-profit - the reason being that the entity is competing with other tax-paying businesses.