You have to use money to give the seller "moving money", money to bring the loan current if they are behind, money for title reports, money for escrow, money for advertising, money for making the payments after you take ownership, money for repairs if needed, money for cleaning the property, money in reserve in case everything falls apart (just to mention the big ones, there are also Insurance, water, electricity, power, property taxes and so on).

Utilities in this area (-electric, water, sewer) are about $100 monthly if occupied. 

Do you know how to spot water damage?

However, since acquiring the property, the taxes went up by 32% and expenses (which I pay) such as electric, gas and water/sewer have increased significantly (perhaps due to COVID).

The first 10 years I didn’t have to repair hardly any furnace/ac units, garage doors and openers, water lines/sewer lines.

That’s your path of least resistance. 

Or expenses leaving out key items like water and sewer.

The property I offered on needed a new roof and had some water damage so the seller was only accepting highest and best all-cash offers.

Or could i find myself under water with this strategy.

I agree with Patricia, it isn't they can't find a place, they are taking the path of least resistance.