Was there a substantial loss of enjoyment? 

Keep in mind your property value can drop substantially with various changes and you have a lot of risk going in to a deal like this.Secondly, a general thing always to remember when buying condos is that you have to be good at vetting the associations and have the foresight to keep special assessments in mind, special assessments in various areas around the Florida coast are much more impactful than most other areas of the country.Good luck!

You'll spend top dollar in JC and get amazing rents but there are markets in North Jersey where you'll pay substantially less but still attracted high rents.

You may need to find places that need a bit more than a little work but can be bought at a substantial discount.

The lien is for substantially more than the property is worth.

Rates are historically low and rising.You should be able to get a HELOC (home equity line of credit) down the road when you have substantial equity in the property, if not from the same bank, one of their competitors.Take the cheap long term money first.One girl's opinionStephanie 

In order to secure a developer's fee you would need to do another round of tax credits (syndication) which is not unheard of, but generally only makes sense if the property needs substantial improvements.

You need to find distressed properties or distressed situations or both that will allow you to buy at a substantial discount vs. full market.  

If they need substantial work, Are you able to fund doing rehabs (or multiple simultaneous rehabs) if tenants leave?

That should cover a substantial portion of your PITI.