Many people erroneously post in the Renter's Discussion forum.

In CA if you do the tax sale approach it is recommended by the tax collectors- treasurers of any county that you do not do any rehab or sell the property for 1 years time frame as there is a litigation period allowed to the property owners (estate owners included), to contest in court if there was an erroneous sale or a legitimate reason it should not have been sold. 

Private transaction(e.g. father sold to son) or county erroneously recorded only 1 of the two owners and split the value.Appraiser needs to find at least two comps similar in size, age and style and sold recently and need to compare with listing price in the similar ball park.

Can't say for sure how much cheaper unless I got inside but it's almost impossible to err on the low side.A word of caution.  

There have been a lot of issues with erroneous water bills. i.e.

Based on your numbers, average rents are < $500/month so IMO you should err on the side of being conservative/cautious because that's not a lot of gross revenue/unit to back you up.

It is a period of time where the property owner is allowed to contest the sale in court in case there was an erroneous sale or the taxes were paid at the last minute and the sale was scheduled and held. 

You were right, HUD didn't blink an eye when I shared with them that the home is erroneously listed as FHA insurable and in need of no repairs. 

Many people erroneously post in the Renter's Discussion forum.

Many people erroneously post in the Renter's Discussion forum.