I am assuming insurance, taxes and some local fees would be applicable as part of the expenses. 

Here can I see the actual tax rolls for a property purchased in Tarrabt County (Ft.

Or maybe you're looking for the tax benefits to offset other income. 

These lists, if you're interested in trying them, are:- 75-100% equity with owners over 50 years old- tax delinquent- code violation...particularly overgrown or junky, multiple/long standing issues (this is a time/energy intensive list for me, hopefully your city's site is more user friendly)- recent arrests (sent out Wednesday, believe it or not I've already gotten a call back)Good luck!

We have a website, we are on Google with Adwords, (spent $700 on that last month) we mailed out over 1,500 postcards to vacant houses and houses that are coming up for tax sale, we have an ad on craigslist, and yet no deals. 

I don't anticipate needing to add or spend funds from the account on any regular basis outside of paying the property tax on the land each year.Anyone have any thoughts on the subject to share?

 $66k left on the loan ($600 month payment with taxes & insurance).  

The 1099 generated for the forgiven debt can be a non issue...if it is owner occupied, and done this year, the taxes are waived. 

Also curious if someone buys property/tax liens and what that is like in Jersey City.

After property taxes and reinstating the loan and doing some landscaping work, I'm estimating there's about 15K equity on the property.My plan is to buy the property subject to and then sell it to a regular buyer but I'm not sure what steps to take to go through this transaction.