We rent property short term and allow dogs (up to 2, 50 pds or less, pet agreement and $100 pet fee). 

And for over 10 years, I have been in multifamily affordable housing development, and I am very familiar with asset management, property management, construction, and tax credit financing.

I was first told that there is a state legislation that prevents them from not charging fees or charging lower fees. 

I keep telling him that we’ll need to jump on something once the flip is done otherwise we’ll be paying more in taxes. 

I have a lot of investors that buy in TN for example and the taxes in some counties are crazy low $400-$600 annually.

The program looks at location, property value, amount owing, interest rate, taxes, insurance, rents, condition, etc and several exit strategies.When we make an offer to buy, we can offer cash, subject to, wrap, seller financing, lease option, seller carryback and so on.Obviously if we wholesale the property, there is no carrying management needed, and if use a lease option to sell, the optionee is responsible for maintenance and repairs.

Also, for a situation that owner simply refused to pay insurance/taxes and let it go foreclosure.

They are property owners in your neighborhood, not an external company with no stake in the community other than management fees. 

But the upside is also much bigger than saving money in the savings account and lose it through time due to inflation and no tax benefits.

Ask yourself what you are looking for (cash flow, appreciation, tax benefit, etc).