Purchase price: $500 Cash invested: $1,123 Sale price: $25,500 A seller got behind on taxes for this 1.4 acre parcel in Colleton County and it was sold at auction.

As a result, I've been driving for dollars and mining the county auditor's website for properties with delinquent taxes.

I am thankful and looking for feedback from our professional tax preparers. 

@Jamie Parker  I would start talking to local banks/credit unions that do investment property construction loans once you have identified the project and have some details. 

If multiple lenders hit my credit report at the same time [during the same week] will it be considered a single credit pull or multiple hits?

And you forgot to count the tax savings as returns.

Run a credit/screening report on yourself.

I have been trying to break into the residential space on my own by driving for dollars, knocking on doors, sending letters, and cold-calling lists of vacant, pre-foreclosure, and tax-delinquent properties.

couple of questions1. are the taxes correct, will they go up after purchase/reassessment?

A lot of the time it depends on the actual credit score, the age of your credit, or the inquiries/events shown on your credit report.