It APPEARS that this is because the property is behind on taxes and the auditor has a tax lien on the property.

You should be able to look up the current owner on your auditors site.

The length of time is only part of what an auditor would look at when they are trying to determine your intent. 

Depends on who catches it as I mentioned, if it's auditors or bank examiners, bet on it.

You don't have to do a title search this will be done prior to closing but it would be useful to check with the county auditor, usually available for free on line, to see if back taxes are due.

Its a 6 bedroom (that's how it is on the auditors website).

The auditor literally took each property apart using the detail accounting we had on each ledger for each property.

I don't see how they could audit or investigate.

We recently wrote a letter to the Tax Auditors office to request a re-assessment of the tax value on one of our properties.

I will also be submitting the same appraisal to my county auditor to help lower the taxes.