Add taxes and insurance and your monthly expenses are over $2,000.

Hi all,I found a house that has been abandoned for 5 years (no taxes paid) I'm assuming the owner is deceased.

Don't assume that it is.If a liability claim ever arises against you for injury or death on your property - and it DOES happen - your risk management will be intensely scrutinized by a plaintiff attorney and potentially a judge or jury.

The folks were about to lose it to a tax sale and so I bought it even though it was not in my geographical area.

As a result, I've been driving for dollars and mining the county auditor's website for properties with delinquent taxes.

In Nevada, property taxes DO NOT reassess on the sale.  

Purchase price: $500 Cash invested: $1,123 Sale price: $25,500 A seller got behind on taxes for this 1.4 acre parcel in Colleton County and it was sold at auction.

I've paid my property taxes online with these cards.

And you forgot to count the tax savings as returns.

I have been trying to break into the residential space on my own by driving for dollars, knocking on doors, sending letters, and cold-calling lists of vacant, pre-foreclosure, and tax-delinquent properties.