. - Thank you - modeling with those numbers, looks like the s-corp tax benefit would be $1,335.01 - perhaps not worth the tax-time hassle. 

We're very small, but this is my model right now.  

It looks like if the property does not redeem its best to hire a firm that specializes in servicing and noticing, Ned do you have a firm that does this for you or have you gained enough expertise to do this internally in your company? 

And taxes are extremely high.I would definitely recommend against investing there unless thats the model you're looking for.

@Jonathan Prewitt Let me throw out that I'm not a lawyer or CPA and this is outside my area of expertise / knowledge.

The gambrel is a unique style that at least provides more adequate clearance, re the upper roof line, than cape cods.The last property I rehabbed had 15 year old wood framed Pella windows that were NEVER installed correctly & this was once a 'model home'.All had suffered severe water damage & rot within the lower frames & sills regardless of any roofing overhang.The studs around the window frames exhibited rot, as well as some of the flooring directly below the windows.

So I seek expertise in.

If you have a deal, expertise, or capital you can find the other missing parts on BP.

I recently bought a house for $8,000, and have an entire business model of sub $50,000 houses.  

;)    One of my goals for our local community is to develop a strong network of individuals so that we can learn both what to do and what not to do; to develop a working list of professionals that we know we can rely on for both their expertise and trustworthiness.