, podcast, books, other networking, etc.A short while ago, one of the guests on the BP podcast mentioned that he was so prepared for his first deal (through reading, networking, BP, etc.) that when it came time to pull the trigger, it was such a seamless process and he thought, "wow this isn't so hard after all!"

Looks like you are in a good position to control more real estate  if you get creative ----You have $555,000 in potential equity ----- short on cash - but with that equity you should be able to leverage yourself into lots of real estate.Here are some ideas for you:create a blanked mortgage on some of your equity - pull out $200,000.00create notes on some of your equity - simple to do - have a title company created a note, give yourself some good terms, like 3% interest, interest only with a balloon in 7 years.

@Igor A.Keep in mind most inquirers here want low down or creative financing.

Just what to Ben prepared when the time comes to refi.

Go in with a business plan as well as your personal finance statement already prepared.  

Unfortunately, the taxes are so delinquent (10 years) that almost all of the payment would go to any payment plant They also cannot afford insurance, so the net would be a very small amount.Are there any creative strategies out there to workout a small SFR like this?

I am the director of the Towpath Volunteers Fife and Drum Corps and love to travel around the country and world with the band.GOAL: Invest in small multifamilies in the suburbs/city area of Rochester and self manage until I can replace earned income with passive income from real estate (approx $50,000/yr) to move into a second career path.I do not own any property at this time but I've been doing my homework to be as prepared as I can be for when I get started.

He/she will prepare a report that details what requires repair. 

Is there any other creative solution I'm missing?

Sometimes, it's all about creativity and "thinking outside the box" to make a deal happen that everyone is satisfied with.