If you paid $250,000 on an SC property that rented for $1700/mo:Annual Income                                      $20,500Taxes                                                         3,600 (would be about $1,200 with owner occupied)Insurance                                                      800Maintenance allocation                              2,000Vacancy allocation                                     2,050Net operating Income                               12,050CAP Rate                                                          4.8%On most rentals in the Charlotte area I look at a minimum of an 8-9% CAP rate.

Do you have first position on title?

BTW, my monthly expenses are all encompassing - any mortgages + insurance, taxes, vacancy allowance, capex - but not taxes, since those are (largely) offset by itemization.

Can anyone out there recommend a good ,fair, and insured rehab company or contractor that can handle all phases of a complete rehab in the Birmingham Alabama area ?

In the title of your ad, put something like "MUST SELL!!!"

The property is paid for by cash (clear title under LLC name) and has been generating healthy cash flows.

My attorney told me the bank has not taken title yet that we know.  

The purchase price is $750k.Gross Annual Rent is: $91,800Expenses include:  Property Taxes $6,300 Property Insurance $6,000 Water / Sewer / Trash $7,200 Advertising $0 Live in Manager Free Rent $8,400 5% Repairs / Reserves $4,590 5% Vacancy $4,590 Total $37,080 As you can see above, there is a live-in manage who takes care of everything from painting, re-tenanting, collecting rent, etc.

I've talked to my title company.

Talk to a local RE attorney, but generally simply paying the taxes will not give you title....by "redeeming" it goes back to owners of record, prior to the action.