More than a half century of deferred maintenance doesn't recover overnight.I think there's still a ton of upside, but it's going to be the hardest dollar you can make. 

A single member LLC (owned 100% by you), is disregarded for income tax purposes.  

Realty Tax is about 18k a year insurance $7500 water sewer avg $16k utilities $8-9k.

She replies quickly to any questions I haveThey offer a tenant turn discount, if the tenant moves out and the property is not rented, they do not charge me while they are finding a tenantI see receipts immediately for any repairs that need doneThey remind me if I have any bills due, Taxes water etc So I never forgetSometimes it is important not only to know what licenses/certifications the company has, how long they have been in business, what kind of reviews they have, but also to know that they truly care about the investment and not just collecting their 10%

I have a US Incorporation and need to get the taxes completed.

I understand the tax implications if I do go forward with this but wanted to ask the BP community before doing so.Thanks in advance for any advice/support!

@Shelley Johnson - When I say tax free, I mean that the earning on my 529 investments will be tax free.  

Hi BP,I'm looking at this house that's listed on the MLS and it has over 100k in back taxes(property).

I do have some large projects in the pipeline which could increase that number by another 100K or so but its safe to say low 300's and I will have a tax bill of about 50K this year so ultimately it is very safe to say I am liquid for 250K right now that I'm ready to invest.Due to my job I have access to subcontractors of all trades... roofing, tile, granite, flooring, paint etc at pretty much cost (day rates of the actual laborers).  

The landlord got the sweetest deal, he bought most of them at the tax sale for $3-4K and fixed them up and rented them for about 5 years.