The condos were completed this year.A bank foreclosure I bought in Bayside for $200K is valued at $1.275 million today.

inherited" tenants like yours are probably waiting to hear from you, so send out contact emergency info and have them respond and include with next rent payment a updated contact sheet,, I'd make an appointment to tour inside of each unit with condition sheet,, the condition from your date of ownership is now what you use for condition move out.. so once that's completed you now know which unit would be tops on your list to rehab and offer an early out to.. if that's a consideration.. you can of course let all tenants know the rent will increase to $$$ when their lease is up and you are accepting 30 or 60 day vacate notices early, they'll be prepared. 

I don't actually have much to contribute, mostly just wanted to lend some virtual support and empathize with how much this situation completely sucks.

I am completely new to Real Estate and I am interested in Investing in vacation properties.

Also, he claims that taxes have not been payed since 2014.

Keep in mind if the description/pictures show the home needed a lot of work, then the price will be lower than normal, and alternatively, if the description/pictures show the home was completely renovated, then the price would be on the upper end.

As with most who catch the bug, my mind seems to be completely consumed with thoughts dealing with this common bond that brings us all together.I was thinking earlier about my first experiences with REI meetups.

I've completed renovations and am thinking I can do a cash-out refi, take out the private lender and access some equity for another investment.

(either to fix/flip or fix/hold).....leading to a nice (40% gross margin) once completed.

After you have 8 or 10 houses and they are completely occupied, you can afford to buy another house every 2-3 weeks.