At the end of the week, I will collect all Tasks that were completed and review them with the Lead Contractor to determine if it was completely done or if more work is needed. 

If you can get lines of credit either on the properties individually or collectively I'd look into that. 

Basically, since it can take years to foreclose, you're not allowed to be in default and still collect rent.

I'm looking for that little bit of data to make my numbers work, and I think you've captured it here - again, talking South Carolina:"...  

Late payments, high credit utilization, derogatory public records, collections?  

Its super funny, those who think rent control is a good thing, and want to limit the amount of monies that property owners collect. 

There's more to the L/O than just this, but to answer ONLY this question, you will lease the property from the seller for less than the current rents...which you will collect now. 

While I don't have a definitive answer here for you, I do have two data points from Philly:1.

I believe in this scenario you would be the one who collects the tax breaks, since you're the one who owns the property.There is a third option, and you should make sure you don't fall into this one.

That means you collected $200 x 12 months of cash flow = $2,400.