You would need appraisal and/or inspection to make educated offer, 15K sounds too high with tax lien, the next thing you know there is 1K water bill, or some other problem :), these type of houses I would make low-ball offers.

In the past, I have used my w-2 income for food, fire and water and my real estate flipping income for wealth creation.

Either a refiance, Home Equity loan, or home equity line of credit. the numbers are property 1:  15,000 tax lienas is value 65,000 arv 70,000Property 2 3,000 water tax lienas is value 55,000after repair value 95,000what are the pros and cons of the types of financing?

Most 4 - units are shared water and that can run up your numbers.

Hello Casey Nordendale I agree with Curtis Waters Hobby millionaire is a good action oriented group.

Another gotcha is if you the landlord pay utility bills for the tenant included in the rents.You could have no water leaks and the utility company decides to go up 10% on the per gallon usage rates for water and sewer now that they think the economy is doing better.

I will manage these buildings, I currently manage another 4 unit building in the same area and know with updates the total rents could increase $3-4$k/yr.Current Rents:  $3900/mo $46,800/yearVacancy: 10% $4,680/yr (actual vacancy rate for area is below 5%)Taxes: $3838/yrInsurance: $2840/yr for cash value not replacement cost (getting more quotes)Maintenance: $4500/yrUtilities: $6,500 (owner currently pays common electric, sewer/trash, and buildings are on well so softener salt and electricity for water pumps.)Budgeting $5k/yr for capexLeaves: $19,442 for debt and cash flow

Are there any value add opportunities such as individually metering each unit, for water and/ or electricity, so the tenants pay these expenses and not the landlord, or is the property already individually metered?

The lot is serviced by municipal water and sewer, and electric is on the road.  

I'm pretty satisfied not having to deal with hot water heaters, lawn care, the roof, etc. etc.