I bet you will find that entities get taxed at the state level.

@James Sinclair James I bet you would have more fun being the bank, than being the landlord. cash flow is much better let some of these young guys and gals that want to build up their portfolios deal with the 3 T's while you cash your check.Most of the Investors I work with now a days would much prefer to be the bank than own the asset..

Be mindful that there may be additional citations or warnings in the works that are not included in your current list.If a muni agency did the inspections and made these requests then they'll have to be satisfied for habitability.

Since an increase in cash flow translates into an increase in value when valuing real estate via the income method, even junker rentals will increase in value at around the rate of inflation, like nicer single family homes do.Now, I'll bet some are thinking about neighborhoods where junker prices have either stayed flat or gone down over time.

I'd say your best bet is to visit as many local REIA meetings as possible and talk to as many people you can.

@Michael Lerch I agree, it was harsh, when you were a little kid and started to run in front of a car, I bet your parents spoke harshly, responded quickly with a commanding voice.

I'll bet they would be happy to answer any questions they can.

I've helped a couple of people contest assessed values and didn't make the connection with the Board of Equalization and equalized value.I love the idea of data crunching on large swaths of information and your use of mortgages (I assume you have an appraised value at the origination date) and HPI are also compelling.Although I haven't played around with it much, because our market is small and pretty homogeneous, I bet I could get just as meaningful information using age and square footage (also available on our tax rolls).

I'll also share a bit of experience that I and so many of my other students have benefitted from - and that is weining yourself out of the tenant and toilet business altogether, to eliminate 80% of the stress and work involved with renting out Habitational real estate.  

Sylvia, there are no CIA employees living in Douglas County, I'd bet on it!