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.

I want to sell one property use the proceeds to find and fix and flip a propertyMy hope is that in two years I can manage to do enough flips to make six figure profitsI have some experience doing remodels and renovations as I have had to do this to make apartments and houses tenant ready.I also have experience designing for an upscale look since most of my renovations have been hgtv worthyMy question is how do I lessen that learning curve.

You may also qualify for a larger loan than you otherwise could with your current income since the lender doesn't need to take property tax into account.Here are two challenges I've noticed working with VA buyers this year in the Austin area's extreme seller's market:1.

In general these home require much more renovation than meets the eye.

I will need to pull a loan to mortgage the property and to cover the cost of the renovation work.

A larger lot at .1 acre sold for $300k in 6/16.  

It's a traditional mortgage with a built in renovation allowance.

The revenues should actually be 61k but app#1 in the basement is not for rent because it requires major renovations, therefore the income is 53k.