I got the the estimate at $3750 annually.

They are in their early 60's and just found out that they have a little over $40,000 from an old job's retirement account that they had in their early 20's.

I'm an accounting/finance professional, and my wife and I decided 3 years ago to take the plunge into real estate investing.  

That really reduced our costs and allowed us to invest more in retirement accounts.

I'm looking for an excellent tax accountant!

I use Ally financial for my rental checking and rental reserve account, about the best interest rates you'll find for FDIC insured bank accounts.  

Remember, most are unlicensed and brokering without a license, have no accountability to state boards, operate as fringe operators skirting laws, may be correctly called public nuisances, have no insurance, etc.

It is my understanding that if you win a bid on a property your money is tied up in an interest bearing account until one calendar year has passed, giving the property owner a grace period to become current on their property taxes.I realize that there are many deals to be found at these auctions, but I'm wondering if it is actually worth it.  

Account Closed and you can alway open a LLC down the road once you have other properties, then put that duplex into the LLC.

I would check with your attorney or accountant, but if the renovator sells you the house for $200K all in (and your counsel has the necessary documents signed) then the HST could be deemed to have been included in the price.