I'll register and everything when the property is "officially mine" and the other more important details are filed and put away.     

@Jason DiClemente@Christopher FinnAgree, I'm going to make him the offer (not including the items he said he purchased) if he is out before the eviction court date.

He did, and was recently bought out and I haven't asked for details but I'm under the impression his share reached into the 7 figures.They were considering purchasing a property in Austin, where I live, and I agreed to help them research it.

They rarely go into detail.

I like the idea of this, I'm going to send you a PM to talk more detail! 

@Jim T.Logan is correct in that you only report the state income tax refund if you received a benefit from deducting state and local taxes.Instances where you don't benefit 100% from deducting state and local taxesexample 1State and local taxes on Schedule A is $11,000(only itemized deduction)Standard deduction is $10,600You only received a benefit of deducting $400 of state and local taxes.

When speaking with them or in court, make it clear these items are from the previous owner, and that you are working hard to resolve all issues. 

For those who don't accept prepayment, all other tenant screening considerations aside (so it's apples to apples, no criminal history, etc.) my view is that one risk item (non-payment) is removed from the rental equation.

The one quote that we have has exorbitant points and rates involved.Has anyone had success with this kind of investment that they can share the details of?

@Josh Wagner...sounds interesting..I'll PM you for more details.