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).  

Rich Dad Poor DadRich Dads Cash Flow QuadrantRich Dads Increase your financial IQThe Real Book of Real EstateThe ABC’s of RE InvestingThe ABC’s of PMRich Dad RE Tax AdvantagesThe 10X RuleThe E-MythThe 4 Hour Work WeekBiggerPocketsPodCast -I hear #136 is exceptional!

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.  

I believe an S-Corp provides more autonomy to effectively pay 0 taxes on basically any level.  

These numbers are approximately and based on financial institutions that I contacted and gave me quotes. 1. 220k x 3.5%= $7700 downtenants pay: 1200 x 3= 3600 mortgage: 1387 (tax, PMI, etc included)water: 170cap x: 200 (appliance depreciations, repairs, etc)loan: 176 (10k loan; my personal loan obligation) PROFIT: 1,667 mon. (20,004 yr) **I could save 6 mons from the profits and pay off the 10,560 from the personal loan.Property 2; I would write and notarize a contract up between me and a relative or close friend that will state that if they apply and qualify for a 30k loan which their monthly payments will be 528, I will pay them 10k over 12 months (834 per. mon).

What I have noticed in a larger than normal number of property tax foreclosures listed.

Rich Dad Poor DadRich Dads Cash Flow QuadrantRich Dads Increase your financial IQThe Real Book of Real EstateThe ABC’s of RE InvestingThe ABC’s of PMRich Dad RE Tax AdvantagesThe 10X RuleThe E-MythThe 4 Hour Work WeekBiggerPocketsPodCast -I hear #136 is exceptional!