Do not renew them for subsequent years.

Susan - The short answer is normally the liens are wiped out by the tax sale, and subsequent quiet title lawsuit. 

I plan on using them for any subsequent Baltimore properties.

In the 80's, a 6 unit property sat on that land and subsequently burned down.  

Hello all,I have for the most part focused on rental properties but would like to now move into flipping, particularly rehabbing and subsequently reselling properties, as the return is faster than rental properties.

Subsequent question: For anyone who does receommend notifying the tenants, how do you typically do this? 

When taking back REO's from foreclosure, I'll rehab the property, sell it on owner finance, then bring in an investment partner to cash out the all in costs and split the cashflow and subsequent note resale. 

If one appraisal comes in lower than that number, then likely every subsequent appraisal will, too.

The return does go up the subsequent years, although very slowly, assuming a 3% annual rise on rents, appreciation and expenses.

Yes, you end up paying for this in the prorations and prepaids, but if the property is cash flowing then you get to carve out more longitudinal margin and build up a little extra cushion by collecting rents on the first of the subsequent month without the cash outflow of a PITI payment.2.