Now of course you would want to model out the various scenarios and identify a price you can pay that makes sense, however non of those scenarios will have a chance to play out if, for example, you bought a note that has sold at a tax sale and redemption period ends before you claim and redeem the taxes.  

I have played around with the numbers.

I come here from the BP podcast- I am currently living in Asheville NC but moved here from Minneapolis MN after playing for the University of Minnesota Golden Gopher Baseball team and graduating with a business degree.

You'll want to work with a savvy Tax attorney, business attorney, and CPA to make sure this is a valid tax avoidance or optimization play, and not a tax evasion play.In the end, Bellman, I will tell you what life has told me:  Occam's Razor is for real.

So far the CF looks better on Multi but if we play appreciation SFH is good. 

This will all play out over the next 2-4 years, not the next 2-4 months. 

[We played "Cash Flow" by Rich Dad Poor Dad and that game ROCKED my world with insight.

I've played with the rent vs buy calculators online and the result is so dependent on so many factors, so it's hard to know.

Then we reverse engineered that process as a starting point.And yes, those ugly P&L statements you see tell the story of PM's that play the system and play their landlords eventually putting them out of business.

And different variable play into the process as you move through it.