Also, I do believe if the property is sold in excess of the delinquent taxes that excess funds by law go to the person losing the property.

Also, the bank doesn't want you to pay it off because they loose all the interest.

The loose their option fee in the process ... but paying 196K is still less than $202K.

I have sent them an email with my concerns and I'm going to start making monthly visits to the unit for inspection to attempt to mitigate further excess wear if possible.Have you ever had situations where you had good paying tenants, but they were not the cleanest people?

Could you imagine loosing your home because of a fluctuation in the economy?

Plus, you need a huge down payment to make up for loosing the long term interest in the property as well as offsetting the capital gains taxes and subsequent taxes from the payments....and you have to deal with escrow and those costs.

And yes if properties here are vacant they will most likely loose the copper plumbing and copper electric wire.

These stated income loans have gone the way of the dodo, thanks to the excesses of the bubble.

Most investors look for cap rates in excess of 10% at a minimum if your goal is cash flow.

I am the only one who can loose in a situation like that.