The city is still getting property taxes. 

Use tax benefits like depreciation, repair deductions, and tax-free refinance proceeds to offset income, and consider an LLC for liability protection.

Tax liens2.

You write an offer. 

Paying taxes on early withdrawal is not much different than taxes on any other income.

That's 50k a year gone and you are losing tax write-offs and equity potential.

They don't pay the same taxes a citizen would pay.

I see it as a tax-benefit discussion with the seller.

Quote from @Jeremy Dugan: Good morning BP,I am working with a potential off-market seller who wants to off-load their converted motel (8-units, 1 is the motel office that can be commercial space) as they retire.

It'll be important to know how much taxes you're gonna be paying when you sell it.