At the end of the day I bet your tenants get evicted and your place gets trashed.

Your best bet is to figure out how to pay those taxes.

The investors I enjoy working with most are the ones whom everyone else thinks are poor, but are actually sitting on a 7 or 8 figure portfolios generating gobs of cash.

 Steven, it has a low ROI because you have full equity in it, i wouldn't sell it. the property cash flows more than an average SFH ( average is about $400, some even get less or more). the ROI will change once you pull the money from it with a HELOC or loan. lets say you pull out 75,000 @ 4% HELOC ( usually they are based on 20 years ) your payments will be about $450 / month, you would still cash flow $200, the property is still yours, you now only have 35,000 equity in the house, your ROI will change based on the drop in equity you have in the house, and maybe the house will still appreciate ( which i never bet on) but know you can buy more property that will cash flow. from what i am guessing there are probably houses that go for 75,000 where you are buying, down payment would be 15,000, you could buy 5 houses with that 75,000 of equity you pulled out. just something to think about.

Probably not even financeable if its Home Path, property is in beat up shape I bet. $3500 is a new bathroom if your paying in cash.

@Lauren Heart, I am currently reading "Rich Dad, Poor Dad," and have several more books queued up in my Kindle!

If you want to utilize the 70% Rule, your best bet is to locate Off Market Properties using a Wholesaler.

This guy knows enough about insurance to be dangerous which he is demonstrating with his poorly informed advice to readers. 

Rich Dad Poor DadRich Dads Cash Flow QuadrantRich Dads Increase your financial IQThe Real Book of Real EstateThe ABC’s of RE InvestingThe ABC’s of PMRich Dad RE Tax AdvantagesThe 10X RuleThe E-MythThe 4 Hour Work WeekBiggerPocketsPodCast -I hear #136 is exceptional!

But I'm unclear if rent credits will actually qualify the rent as a security and require the note to originate through a licensed loan or mortgage broker.Or is the best bet to do a straight lease, and keep the option/purchase a separate deal?