There have been some issues with trespassing in the backyard and car break ins and recently there was a couple of incidents or attempts of forced entry.

Cars,  no cars?

Skynet will automatically disallow your claimed losses and send you a tax notice.

For example, in about 1 year both my car loan and student loan will be paid off.

I recently graduated college - paid for by the houses my parents were flipping while I was off studying - and wanted to find a modest way to give back what I could.To do this, I'm making a tool that lets them scan their receipts and it will automatically upload it to a pre-formatted Google Sheet that they can keep for each property to track expenses and eventually other metrics like returns etc...

My property only has $140K in equity but I don't have any other debts, she of course is paying about $800 a month for her pretty car. 

Because state laws vary widely, my first thought is to talk with a title insurance underwriter in your state to see the requirements for insurable title on a tax deed.Quiet title may not happen "automatically".

You are basically asking for a car loan.  

Hey Harshraj, I use Zillow Rental Manager, you can setup automatic rent collection and the rental income is easy to track.

I was able to buy my grandkids cars (used, of course - I'm still frugal) for their HS graduations.