Alot of unknowns as you don't have the ability to walk the property beforehand, but interesting process, and pretty good deals exist there.While the Trustee Sales are cash purchases, there are many hard money options that can turn over the funds in time for the 24 hour funding required to complete the purchase.If you are interested, let me know and I can go into more detail, as well as make some other suggestions for you to consider. 

Still need to close on the property because I have already put 18K downpayment and then work with city on split process.  

And using the process buy a new property or properties that you also intend to hold for investment use.The issue for you might be that you purchased this property with the primary intent of selling. 

Then start analyzing deals so you get comfortable with that process.

Everything you describe though is just the normal process of how taxes are reassessed when a property is sold.  

If, through the process of renovating the property, the market shifts, do you have an alternate plan for the property, whether it be to live in it until the market improves, or convert it to a rental property, etc. 

Ultimately buying real estate without down payment funds is far trickier of a process.

Negative CF, which is what you are describing, means you are buying your property, and making no money in the process.

Any insights would be greatly appreciated as I navigate this process. 

Happy to share my experience if you want to send me a PM.RyanHey Ryan, we are in the process of looking at buying a house for an STR in the beach Mountain area.