Someone still has to cover taxes, insurance, and upkeep during the foreclosure.

I can't speak for you, but we have decided to meet with our accountant to determine the tax consequences of a sale so that I can take as much capital out of it and move that into a better performing asset. 

Tax sales are usually full of them.

You also benefited from the tax deduction that includes PMI and per your own statement, it's been a great experience until you looked at a recent statement that reminded you of what you once knew but forgot from long ago.Do the math.

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $350,000

Cash invested: $1,000

It was a great investment I could have not pass, as my first investment.(Backyard)
2...

Eventually I will invest in cash flowing properties out of state.I'm looking for tips and advice on being a land lord such as maintenance, rent collection, taxes/accounting, legal, and things you wish you would/wouldn't have done starting out.

We typically let them know that we'll be raising the rents incrementally and we will sometimes give an increase schedule such as they're now paying $450 and we're raising the rent by $20 effective in two months, and then six months after that it's going up another $20.00 and so forth.

It's important to note that only judicial foreclosure sales will eliminate federal judgment liens (other than federal tax liens) in favor of the United States, subject to a right of redemption (1 year).

I'm a rookie investor from NYC who just signed up for Pro membership.I'm looking for someone who can be a study buddy and meet-up info in NYC.A little bit about me:- CPA (not specialized in tax ;p), no professional advice but can help with basic accounting and finance knowledge sharing.- Have been listening to Real Estate Rookie (almost a year) podcast and On the Market (a couple of weeks).- Finished reading "Real Estate Rookie" book by Ashley.- Looking for out-of-state investments, currently looking into Philly.If anything clicks you, feel free to contact me.Thank you!

security, fencing, a guard dog inside or someone stays there at night $1500carry cost of your loan/tax/insurance$?