That one is a big deal for rebuilding.I've also heard of property tax reductions for properties significantly damaged during the storm.Depending on the property and what you want to do, the hurricanes affected property tax, insurance, and permitting in a lot of ways.

Either way, with rent and price appreciation, tax benefits, holding long term is a net worth exploder.

After closing, when the property taxes were due I never received any bill.

No matter the number of units, there is one roof, one property tax bill, one sewer line, one gardener bill, etc. 3.

BTW behind Texas.When all forms of taxes are calculated (income, property, and sales tax), CA ranks below the middle of the nation in total tax rate.  

It's a balance of cashflow and wealth accumulation.One of the goals is to have tenants pay as much of your cost-of-ownership as possible (loans, taxes, insurance, etc.)In high-cost areas, any Class A or B property you buy will usually negative cashflow for the first 3-5 years, until rents rise enough to cover the negative cashflow + rising taxes & insurance.Investing OOS increases your risks because you may not know the market and you can't check on everything/everyone all the time.If you move forward with your buddies, HIGHLY recommend creating a solid Partnership Agreement!

I am using the tax benefit along with the principal pay down and appreciation to offset.

The surplus line broker shall collect the Ohio tax of five percent of the amount of the premium for the insurance policy at the time the insurance policy is delivered to the insured."

I recommend that you look at Notice of Defaults, Vacants, Tax Liens or Probate. 

But, you still own house and benefits are as follows.1. tax benefits2. principal payoff on your note.3.