was their Legal Dept drafted an addendum which if we go on our own, we plan to incorporate into a new Lease, which Tenants already signed, at least acknowledging since they didn't notify us, they agree to limit number of kids (some of our neighbors are pissed off about the traffic, but we explained to them our hands are tied). 

Tenant history Call previous landlord for this tie break.

If all that is owed is the back taxes, there is equity remaining and the ex-husband/wife can sell it then you might have a good deal.Good luck 

I will pay ten percent of my income for 7 remaining years (ten total) and it will cost be about 250-300 k at 2-3 k a month vs paying 6500 a month for 10 full years starting July to pay it off.I’m winning with public service loan forgiveness by a ton.

Now it’s just picking up the remaining leftovers if you can find any that are in a decent area that is.  

I don’t want to tie up all my capital there and I understand it’s difficult to get a traditional mortgage from a local bank there.

Rents will not go down when demand remains strong.  

You're buying the future cashflows of the property so a corporate signature McDonald's is going to trade for a similar CAP rate across the country, all other things equal ( term remaining, scheduled increases, NNN or Absolute, etc.)If you are looking at some kind of local single or multi tenant building, then your local market will have a larger effect to factor for likelihood of replacing a tenant should they leave.

Current Mortgage: 15 year term(12 year remaining).

My desire would be to take profits from other sales to add hard improvements to the property and rent those remaining four lots out for tiny homes/mobiles.