It's going to vary depending on your own income outside of investments, your age, your ultimate goals, whether you want/need the income to live off of, and all kinds of other considerations.

Approximately 6-8 weeks ago my attorney stated he was unable to get the delinquent tax 'owner' nor the squatters served in this matter. 

., I left Anderson for a small firm that will do the actual taxes and then another company that specializes in tax strategy. 

One thing to be aware of is the FHA multifamily self-sufficiency calculation which determines if a property can generate enough rental income to cover its mortgage payments.

Median household income for 38109 is $35k or ~$31k after tax

Firstly, it often generates higher rental income compared to long-term leases, particularly in desirable locations or during peak seasons.

@David R Pustelnik recommend you first focus on raising the rent for the first time in 10 years.By the way, how much have your property taxes and home insurance gone up since this tenant moved in?

Yes, it will delay your taxes on this income for another year.

Tax-wise, profits are taxed at your ordinary income rate, and frequent flips may subject you to self-employment tax if classified as a dealer by the IRS.

https://www.biggerpockets.com/forums/51-tax-legal-issues-con...