Removing the excess property insurance leaves total Administrative expenses of $3623.4) Utilities (common area electricity) - none provided but using January and February of 2014 numbers, which average $42.50 per month, I'm sticking in $510 for this expense.Total Expenses (as is): $31,662NOI = (6,722)Total Expenses (with above noted adjustments): $10,479NOI = $14,461Currently, the property is 100% occupied with each unit renting for $525.

Police shut that one down in a raid too. normally they break a big hole in the house and tap into the electrical wire before the meter to steal juice. and the excess moisture destroys the plaster/drywall.my buddy was asked if the tenant can section off an area in the garage for legal pot growing. outside is -20 and he needed temps of 60F+. lol

Once the IRA is fully funded for the tax year, what becomes of the excess earnings from the property?

@Matthew McLean You are correct, a multi-tiered corporate organisation may be excessive at this point.

Even if you decided to go ahead with it, you'd most likely be in violation of state law, as at most you can collect, 1st, and last, or month & 1/2 and last. once they've occupied they could simply take you to court and get the excess refunded,and the judge may take the opportunity to make an example out of you, they will not care who's idea it was originally.

Those rules are different from state to state based on probate, inheritance and adjudication laws that determine if the property is taken over by the municipality due to an excessive amount of back taxes and liens for things like grass cutting.Your best bet is to talk to the local investors you can connect with and see why no one else is after such properties.

Likely have moisture damage unless it's absolutely bullet proof.

If the bidding goes higher than the amount owed to the banks, and all fees back interest, attorney fees, junior liens etc, then the excess goes back to the owner,  The only way the bank can profit is if the bank becomes the owner and then sells the property for more than is totally owed to them. 

Can anyone tell me how to go about getting excess proceeds on a tax sale propertyIn my state it tells me that the owner of the property at the time of the sale is the person(s) who can claim the money.Is there some what that I can partner with them or something so that I can make some money.

Really don't have money for excessive attorney fees, and can't find the low cost ones who work with the owner not the tenant.