A lot of investors based in expensive markets such as Las Vegas are choosing to purchase their investments OOS in the Midwest because of the affordability and numbers making more sense.

Therefore the time frames don't align and presuming that people logically stop paying their taxes and mortgages at the same time, the Sheriff Sale would happen long before the Tax Sale. 

The affordable purchase price and strategic renovation opportunity made it an ideal deal for maximizing profit in a short time frame.

If that is the approximate time frame, then throw them a bone and move on.If they have been unable to use the bathroom since the water incident because it was declared unhealthful, then it would have been much better to have made an insurance claim. 

here are my stats on 6 months being with them (not by choice but they acquired the property manager I had in chicago) I have 22 units in 4 buildings    Rent 22.5% lower rent      Expense 34% increase in expenses Also all expenses are way above market rate with minimum oversight for vendors overcharging or proper negotiation for volume work.

That seemingly lucrative deal of $1,800 will be eaten up in expenses quickly.

I second that.I remember back in 2008 time frame having a hard time selling a SFR here in SoCal. 

If you can build fro around 200-250k per unit, it may seem attractive, depending on time frame, debt terms, and the ability to achieve 2k per month in rent.Great product to build.

If pex then its a none issue, very inexpensive to replace all HOWEVER, the buyer SHOULD have known this BEFORE submitting the offer. 

If you need to ‘snap  increase”  then by a large margin… give your tenants extra notice and just advise them that due to significant increases in expenses we must make some pretty major increases to our rents , but I’m giving you ample notice to either prepare for this change or to plan to find a new living situation.