I was told by a real estate agent a few months ago that many people get tax abatements when they buy foreclosed or short sale homes because the price they paid for it is well under the tax assessment.

The roof of a condo will be paid for out of a special assessment, meaning that each owner will get a bill for their share of the cost. 

I know some of these cities are sooo far behind on doing re-assessments so for now it's cheap.

The problem you are describing could be caused by any one of dozens of things.

Six months,  about a dozen offers, and two visits to probate court!  

Once that is done you can assess the water damage.

I have attended literally dozens of boot camps and seminars (never Than's, mostly Ron Legrand, which still cost sometimes $5k for a 4 or 5 day event).

I agree with Marty in his assessment.  

On paper it looks like I could essentially replace my income when I get to two dozen rentals cash flowing a few hundred dollars a month.

A house with 100% financing, but a good 30 year, fixed, low interest rate loan is a steal to a landlord with a few dozen or more houses who would like to obtain more properties, but will be denied by conventional lenders.