I would like to remove the tenants, renovate and charge market rent.  

After several years, have some equity, and possibly sell some properties and purchase larger unit properties.  3.  

Already renovated the bathroom and kitchen.  

The owner is 90 and has a few family businesses that are stables in the community and puts all his attention into those and does not really have the interest in dealing with everything that comes with tenants, renovation, and what it would take to bring the property up to market value.

This didn't account for an accurate reading of the "half story" on the third floor, or a recently renovated half basement.

Camden National Bank is one of the larger Maine banks and I have several commercial loans with them.  

A little renovation and I could have this property rented for $1,200-$1,500 easy!

Ed, there is not enough information to answer your questions.did you foreclose the right of redemptionhas the judge sign off on your tax sale certificateis the property occupied or vacantdo you have to file an eviction of the existing owner or tenantdo you have enough money to foreclosedo you intend to get a mortgage on itI have done many tax sales deals - my objectives could be ..... 1. sell it now after legal ownership is acquired2. clean it up and sell it for a profit3. keep it to rent4. offer it at public auction - let others bid against others to push the price way up5. sell it back to the owner6. put together a joint venture - raise money to renovate it 

For you first larger multi-family property, I would focus on areas that have proved to have rent stability, overall low capital improvement requirements, and a record of property appreciation over simply going for a property that gives you the largest forecast returns.  

We were lucky enough to receive some federal grant money to help fund the renovation.