What you will have is an RE that is cash flow negative that is unlikely to experience significant appreciation.  

Would love to hear from anyone who has decided to use this kind of feature and what your experience was? 

It's a learning experience. 

How can you possibly believe this based on your own experiences thus far in the transaction and what others, particularly what Drew who has experience in this market has told you?  

This valuable experience will serve you well.

All my peers and clients who previously bought tax sale properties moved away from the strategy a number of years ago so I don't have any recent experiences to go off of,  but wouldn't be surprised if the lead time is longer this time of year due to the holidays. 

They require a site plan to get that started.Has anyone had any experience with this and have done it successfully?

2-4k4) new roof, new HVAC, new water heater, ac panel, replacing plumbing to PVCwater heater all set 1.5k-2kplumbing 2-8kroof from 10k-25k5) framing (creating new bedrooms or baths)8-15kthanks to everyone that are willing to share this info according to their experience. 

If you have no capital and little or no experience, finding a partner may be a better option. 

In my experience those that go alone often times don't end up closing any deals because it's information overload and they're drinking out of a fire hydrant and don't have any guidance to tell them what to focus on.