In most states, there is a very distinct difference between the "Delinquent Tax Roll" and the "Tax Sale List" - which I think @Jeff Zamora was alluding to above.Delinquent Tax Roll: This list contains all the properties in a given county that have missed at least one tax payment (as per @Sean OToole's outline), but these properties have not yet been seized by the county in tax foreclosure (i.e. - in California, I believe property taxes can go delinquent for up to 5 years before they're taken by the county). 

It outlines the whole strategy.

Develop Action Plans: Outline the steps, strategies, and resources needed to achieve the 3-year goals.

Also the proformas that they will show you are usually too optimistic, leaving out lines like capital expenditures, anticipating too high of appreciation, too low of vacancy, etc.So do your due diligence and visit the operation or you are making a big mistake.  

If you already have a lease in place that doesn't clearly outlines you'll be paying for certain utilities, you're stuck for now but can amend the next lease to remove that from your list of responsibilities and add it to theirs.

You are essentially handing off the keys to a multi-million dollar asset for the PM to run the day to day operations.When selecting a PM, you need to ensure that your goals are clearly outlined and aligned with the PM. 

I was able to recover most of the item, but much of the damage (stolen electrical fixtures, mirrors, gate, etc. was removed (some of witch broken) and thus had to be re-installed or replaced).I could have pressed charges in this instance, but was happy to just get the keys and the occupants out of my hair, plus, in the heat of the moment, it slipped my mind to have them arrested.As for other cases, so far to date, I have been able to arrange cash for keys and avoid such problems.In your scenario outlined, it would be tough to prove the case.

Then we go through and build up an actual scope of work that outlines down to the . of what is to be done with the funds.

Now, first thing first, you should outline what you think you could better on the second deal based on what you learned from the first deal so that you stay on budget and time. 

Here are several important factors to keep in mind if the program lapses:•New business policies for which application and premium payment dates are on or after January 20, 2018, may not be issued•Endorsements to increase coverage on existing policies for which effective and premium payment dates are on or after January 20, 2018, will be not be processed•Renewal policies with effective dates of January 20, 2018, and later, for which renewal offers were issued prior to the lapse in authority, for which premium payment has not been received within the 30 day grace period will not be processed•Renewal offers for policies with renewal effective dates of January 20, 2018, and later that have not already been sent as part of standard the renewal processing schedule will not be sent until Congress has reauthorized the program•Renewals with effective dates that fall during the lapse period which have already been sent as part of the standard renewal processing schedule and for which premium payment is received by The Hartford before the end of the 30 day grace period will be processed and remain in force•Policies in force as of 11:59 pm January 19, 2018, will remain in force, and claims for covered losses under those policies will be processed and paid as normal•Existing policies may be canceled per the insured’s request during this lapse period in accordance with valid NFIP cancellation reasons as outlined in the Flood Insurance ManualThere is a silver lining here and that is that there is a strong and growing private flood market.