Mitigates your liabilities and secures your home. 

The neighborhood found out that the city knew about the issue and didn't mitigate the risk.  

To turn $300k into a 16% or better ConC return right away you'll:Buy in a pure cashflow (no appreciation) area that returns extremely high cashflow, with corresponding issues to mitigate the returns. 

It's not necessarily the end of the world, and more often then not the situation isn't as urgent as you may think, but regardless, having a realtor that is empathetic towards the fragility of the situation and responds quickly to mitigate your stress is extremely valuable and important. 

Sometimes this can be significant and it makes more sense to advance than to pay 20% plus in penalties.The main risk of not advancing property taxes on a NPN is forgetting to redeem or pay taxes that become too delinquent and having the property go to tax sale.The best way to mitigate this risk is to schedule a task to look up the tax status once a year on each NPN.

Sure there is a RISK for a crazy, non paying tenant who blasts loud music and calls you at 2am for a broken toilet, but doing your due diligence when placing a tenant will mitigate that.

It also mitigates risks, because I know I could sell any property within days and for top dollars.

@Ola DantisHi Ola, I agree that you can be the best landlord in the world and still gets stuck with crappy tenants, but I also believe that there are things that landlords can do to mitigate the risks.

That is what I was thinking if we decide to go the STR route, instead of a short 5 month lease before renovations.I believe that if we do as you say, with lowering the cost and setting expectations, we can mitigate the bad reviews.

Mitigate as much as you can!