There were no recent comps, though the neighbors property 2 doors down sold for $290,000.00, in August 2013, so I knew we were on to something.We picked up the note for $9,850.00, and covered the past due taxes of $4,479.90 to keep it from being lost.

You get potential cash flow, tax shelter and appreciation.

HOA, special taxes, and such...just made for a buz kill!

An exception for water may be a duplex situation where there might be one meter for two units and thus the landlord MIGHT keep the water in their name and bill the tenants.Cost of trash pickup is dependent on the particular area (we pay for it as it is added to your yearly taxes).Utility responsibilities are discussed with applicants during their walk through. 

With that type of financing you would only pay about 31/2 percent down paymentDepending on your financial situation you might want use an Attorney and/or a tax attorney to give you advice when you know what you are investing in.  

Thx again in advance.Expenses Annual Figures R/E Taxes $9,756 Insurance Premium $3,000 Maintenance $4,000 Water & Sewer $3,000 Common Electric $700 Gas Heat/hot water $0 Tenant Paid Management (5%) $3,937 Garbage $0 Ind.

I looked up the status of the property tax bill and taxes are always paid before due date.

your statement was correct pre 08 but not post 08.In many ways with many HML getting a loan will require the exact same qualifications as getting a loan from a bank.. tax returns credit income and experince.. the place for the HML is simply banks DO NOT do rehab loans.. so this has allowed the HML to firm up the requirements.

I believe I would like to start with some Raw Land flips through tax liens in order to develop some working capital.  

Are there any legal and/or tax considerations we would need to know about?