The tenant fails to pay their last month of rent, moves out, and leaves some cleaning and repairs.

I’d have ZERO interest without a written commitment from a well established power company with assets to seize if they failed to follow through. 

What if they fail to perform? 

:@Joe Splitrock turns out Cozy made an error and reported their failed payment, due to insufficient funds, to me as they had claimed fraud/disputed with their bank.

You can always ask for a tax recert and challenge the assessment file a petition to the VAB value adjustment board and dispute assessment.If all of that fails start looking at investment properties in states like TN, LA, AL, GA, FL, these states in the South East can offer super low annual property taxes. 

Results are FAR more weighted on HOW and WHAT a person does then where they do it.

The tenant fails to pay their last month's rent and leaves the place needing new flooring and paint.

The average annualized (investment weighted) yield has been 30.9% (This is like the bank CD's APY). 

Iam also going down to the code enforcement office to see what the house is failing for.

Sounds like you (or prior owners) failed to mitigate damage by allowing this to occur over a long period of time.