Contrary to popular belief, cheaper properties with high rent to purchase rations are usually really tough deals to make money on and not really great starter deals. 

And rationalize it based off their behavior and actions, less of their talk and desires.  

When I look into something like this, I find it very hard to rationalize what's going on...

Don't listen to people who rationalize poor cash flow in their markets.

Selling for profit and/or returns and creating a smart exit strategy is the hard part.Your analysis is a rational decision process.

Not at all, you are acting in an economically rational way and it sounds like you are being a responsible property owner.

My logic is that no rational person will ever pay more in back taxes than the property is worth.  

Telling yourself to drop out because its 120k is a way to "rationalize" leaving.

Be straightforward, calm, rational, and give folks a path to compliance and a mutually beneficial solution.

@Michael P.Instead of looking for holes in that plan I think it would save time to look for the rational, well thought out parts...Hold on still looking.....Still looking.....Yeah I’ve got nothing.If the market crashes that bad and real estate values get more than cut in half your best bet is probably bitcoin.Good luck predicting Armageddon