At foreclosure auction, no other bidders met the full credit bid the lender required and the property "reverted" to the lender.Said lender now owns the property on its books, which was formerly a mortgage asset, it used to be termed OREO ("other real estate owned") by bank auditors because these were not assets intended as buildings used by banks for retail offices, etc.A lender that (now) owns a property inherits all the senior liens, if any, as well as property taxes (both current and delinquent) as well as the ongoing issues with possession and maintenance. 

Then the auditor or Treasurer.  

I am understanding I can convert Operating Partner Units in an UPREIT to REIT shares (taxable) but the benefit is I can sell any percentage of the operating partner units, paying taxes on only that percent I sold.A friend that is a bank auditor, specializing in commercial real estate said:operating costs should total about 30%, leaving NOI 70%For us business people NOI in real estate is EBIDA (T left out as Taxes are an above the line expense)Any know, does the DST have to produce audited financial statementsSo now I feel I am better equipped to work with the RIRep and tackle the recommended PPMIf you really follow the track record of when these multi family unit being purchase and sell, average holding time is 3-4 years so you pay the premium in there and that's why how DST sponsor makes money.

I read somewhere on BP that no income but still deductions was a good auditor flag. 

Thanks for the advice, I'm going to reach out to the county auditor for any permits.The vent is just a 14' x 6' inch slotted vent.

Provided them with name, auditor mailing address, and the property they own.  

They also will get everything ready for your CPA, the State Auditors, IRS, and tax people in terms all those kinda people understand.It would be silly, like an investor trying to remodel a house or buy all the materials for a project

I'll send to buyer's over the last 12 months but instead of spending the time on the Auditor's Site, use a data scrapper to mine the data for you.

Most County auditor websites will have tax information regarding if the account is current.

Maybe its still in limbo and the county auditors site hasn't been updated?