I know some people who never recovered for the rest of their lives.Education SourcesSmall Business Administration (SBA) - Not just for loansThis is a taxpayer-funded organization just waiting to give you guidance and education.

With Florida tax lien certificates you cannot contact the delinquent taxpayer during the 2-year waiting period to apply for the tax deed if you own the tax lien certificate.

If it is, why not rinse and repeat the process every year to generate a taxpayer-funded income stream?

I can have as many as I want and they are all behind the same login/password.I use them to create individual accounts for each property, hold money for quarterly tax payments and a variety of other items.

.* The taxpayer can acquire title to the property under a purchase option price that is nominal in relation to the value of the property at the time the option may be exercised.* Some portion of the rental payments is specifically designated or readily recognized as interest.* The sum of the rental payments and purchase option approximates the original purchase price plus interest and carrying charges.* The lease requires the lessee/buyer to make substantial improvements to the property.Keep in mind that no single factor is determinative, and that additional factors not listed above may also influence the result.You should also keep in mind too, that it will not be the IRS who determines whether your contract falls under the scope of Dodd Frank- it will be some local judge when your PO'd tenant buyer and his attorney take you to court and sue you for the past three years payments because you didn't "take under consideration the borrowers ability to repay."

I got the annual tax payments from the city tax website.

Given it seems you are only borrowing a small portion, it should not be a deal killer, but you need to be aware of it & know that these tax payments must come from your IRA.

Furthermore, should you subsequently sell the property you will only be able to use the lesser figure of FMV to determine the deductible loss.The intent of the rule is to prohibit taxpayers from transforming a loss incurred while the property was used for personal reasons, into a deductible loss at a later date. 

I'd go with price reduction to lower that value, which in turn, would lower your tax payments.

@Derreck Wells ,As an accountant and someone who represents taxpayers before the IRS.