In a situation like this you should be charging a premium rent, possible as much as 50% over market, or you should be taking a cut on his business income.

Do not cut any corners or take any chances.Nobody I know can tell you what the future holds and how it will not hurt you. 

Tax liens as you get farther out east are more complicated than West coast tax liens that are fairly easy to understand and cut and dry.my sense of this is you have the right to pay the tax's and add it to your note balance.. just like if they did not pay insurance..I suspect you do have a Alienation clause in your mortgage as its pretty standard verbiage in most.but you have multiple events of default going on here.. so you can start at anytime I would thinklastly I think at least in many east coast states or counties to clear title they need a court action.. and at that time you would also be notified and be able as the lender to cure.. 

It looked like the tenant simply disappeared from the property. 

(4) Or are HUD homes simply a great way to fix and flipThank You for any feed back

A lot of the time they cut the GC a discount too, so it might even be the same price to have a GC without even counting in being taken advantage of and the added carrying costs.

Not only did this cut my scheduled rental revenue in half upon closing for a few months, but each unit required several thousands in turnover cost due poor condition.  

Correct me if I am wrong, but dont the banks simply turn around and sell the exact same loan again at a higher price as a performing loan to the same private investors ?.

I am about to purchase my first property and have been working 7 days a week in order to simply increase my investment energy.

Trying to hit a grand slam on your first deal is not near as important as simply getting that first deal and off of the sidelines.