That may work to your advantage.The principal portion of the monthly payment is typically calculated as 1% to 2% of the outstanding balance for the billing period.

I have not been in a position to need to use this type of system to this point but I do have a suggestion for you,  not sure if you listen to the bigger pockets podcasts but they do an outstanding job of not taking sponsors just for money, but selecting sponsors that can actually provide something of value to listeners and members of this website.  

If your cash flow really materializes at $400/month on a ~$90K investment I think that is very good/outstanding. 

Thanks for the feedback Jaysen Medhurst Steve Kontos and David Faulkner Ben Leybovich - "Luxury House Hacking" was absolutely outstanding - A+ for creativity

There's outstanding liens on each property.I know in 1992, these houses go for $275K to $300K.

The only way to get a truly accurate number is to get the outstanding balance from the lender, which usually requires cooperation from the owner. 

At time of closing, how do we recoup any outstanding ledger balances from our tenants? 

I say “only” because I am not in credit card debt or owe any outstanding payments.

"Waiting For The World To End" - Bond Rout Bodes Badly For Exuberant Equity Investors “There are a lot of people waiting for the world to end because of this bond market...” 21604 Views Oct 7, 2018 1:30 P"BBB-rated debt outstanding has grown to $2.5 trillion today, a 227% increase since 2009.

In addition to what @Nik Moushon suggested It would not hurt to see if the city would be willing to forgive some of the outstanding taxes.