You (or someone who you are miraculously able to wholesale this to) would be responsible for cleaning up the title. 

The power company stated that in order to run electric to the home it would be $50k that's why no one purchase the property.

Advertising, cleaning and maint, insurance, legal, repairs, supplies, etc... 1) Because property #1 wasn't "on market" during the renovation, does everything apply to the basis? 

I just knew that a vote from such a powerful person would be enough to put me among the highest rated posters but alas....it only counted as one vote.How can this be?  

I've been in their apartments and they're clean.  

Let the power of compound rate of return do its work.

hi chaim. i have not bought any houses at a tax sale. i have however, bought a few after the tax sale. here in erie county new york, if you buy from a tax sale, it can be a great deal. however, whatever was left on the past due taxes, you now owe. hence, you just bought yourself a liability. i don;t know about anyone else here, but i can manage to create my own bills myself without buying anyone else's tax liability. so, watch out for that issue. it may just be a new york thing, but maybe not. one of our local municipalities here has their own tax sale auctions aside from the county. that one, if you buy from them, you get a clean slate, no past due taxes left. however, they like to start the bidding out at what was owed to them, so, there would be no " leftover" anyway. by the way, they sell very few of them. lol. i usually go back to them after the sale and offer to buy some of the " left over" properties, usually for pennies on the dollar and i get them. you think they would figure out to start the bidding low if they are gonna sell them cheap later on anyway. but, regardless, even after i buy them dirt cheap, i still get them with no left over taxes owed. also, you need to know if your state is a " redemption" state. i. e., can the owner come back later and redeem their house by paying the taxes?

Surely there will be expenses (cleaning the house, making repairs, changing lightbulbs, etc.), but how large exactly are these expenses?

I loathe getting my spring clean up bill from my PM, it's alway a couple hundred bucks and, while necessary, annoying.You'll want to start as close to the 2% rule as possible, so about $85k this place would be a steal.  

Making sure they are really clean is extremely important.