Coming into 2020, it appeared as if 2017 was going to be the low point for Inventory this cycle since both 2018 and 2019 finished without setting new lows. 2020 was obviously an outlier year, so unless we see another "Black Swan" event I expect 2020 to be the low point in AVG Inventory Level for a very long time.

Property taxes have increased substantially based on the recently appraised value, so my refinance, which seemed to finally put me in the black, actually resulted in payments just as high once the taxes caught up.My current tenant is on a month to month lease and has paid almost every month, usually on time.

I don't think the answer to your question is black and white.  

That diagram does help, but not everything in the tax world is black and white. 

Keep this in mind the next time you find black mold or carpenter ants.Final thought on the owner not doing routine maintenance ... if the house if older than about 20 years then you need to check all the mechanicals (plumbing, electric, HVAC, low voltage) for code, quality and function.  

LOL... now maybe when the politicos can't get their bottle of Silver Oak or Screaming Eagle they will take note.. but Trump does not abide so he does not care LOL.When I grew up in Cupertino as kids we cut apricots picked cherries etc etc.in Oregon folks my age used to pick berries  Blue  Bosyn black you name it.now get a 16 YO off his smart phone or computer game and put him or her out in the fields..

However, if that property continues to be a black hole then get rid of it.So you must decide how much risk you are willing to handle.  

Bank want 2 years tax returns, don't show a lot cause we own a lot of rental property, and my financials, which are fairly strong $2M net worth and 740 credit score, but a big black eye with a bankruptcy back in 2011 due to being over leveraged on rentals and the market crash.

Besides all the great resources here on BP I'd also recommend checking out a local real estate investment group like RIREIG in Warwick or Black Diamond REI in southern Massachusetts.

I've used David Black with Community National Bank with good success.