Tax Sales/AuctionsSee who is bidding on these properties, and try to talk to them after the auction is over.

I have excellent credit but I work overseas (i have tax returns but no w2s)-- would that be an issue? 

The assumption is that there are multiple years of tax returns and income statements to show that it's being operated profitably and with a comfortable contingency.  

The purchase price is $750k.Gross Annual Rent is: $91,800Expenses include:  Property Taxes $6,300 Property Insurance $6,000 Water / Sewer / Trash $7,200 Advertising $0 Live in Manager Free Rent $8,400 5% Repairs / Reserves $4,590 5% Vacancy $4,590 Total $37,080 As you can see above, there is a live-in manage who takes care of everything from painting, re-tenanting, collecting rent, etc.

I was just notified that a property that has been in my family since the 1950's has been foreclosed due to unpaid property taxes (under $3,000). 

The taxes on condos are much less than on home's especially in cities.

I like to make mine on an amortization schedule like a mortgage so that i am paying it down the same way, PITI (principal interest tax and Insurance).

What one does for book purposes (what the PM does), is going to be different from what one does for tax purposes (what the CPA does).  

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Look at the zoning regulations and how it relates to parking requirements and new development taxes for new construction in light of what new construction demands in rent levels verses renovation.