So if someone bought it at the tax sale and then didn't want it and didn't pay the tax on it, that is a big red flag that they may have found something wrong with the property and decided to let it go.I would do some research on what you bought.

I definitely need to stop this in it's tracks so the smell doesn't TOTALLY infuse the place@Bjorn Ahlblad  I guffawed when I red your reply! 

But there is no visible building on Google Maps, and Xome.com states 0 square feet for the structure.Big red flag: I got it for 16%, the maximum interest rate in an interest rate bid down state.

Red flags all over!  

Would you consider it a red flag if some GPs don't share their pro forma?

Increase down payment, then you won't be in the red.

The death is just a red herring.

Betting that is going to happen again while new smart participants have entered the market(sophisticated players like black rock) and retail (everyone who watches finance youtube knows about real estate) I think is a foolish bet.

The best thing you can do to protect yourself is to get a rock solid lease and good insurance and make sure you keep your property maintained and provide all the safety equipment required by law.I only own one property atm and I don't even own the house I live in so I don't think the risk is worth the cost but once I get a few more properties I will definately get an LLC for my properties.

I have a contemporaneous mileage log along w/ what was done each trip to go along with this.3) I am aware that for the IRS it is a red flag that I maintained a full time job over this period (a good amount of renovation work was done while working remotely waiting on jobs to finish).