I think that it’s a far better strategy to have that option and not exercise it unless it becomes necessary.

That is as true today as it was 2400-some years ago, when the historian Thucydides pointed it out.Having a pretty big measure of that money-power in an unfair world and being able to exercise it if I need to has become immensely important in my life, much more important than any box with wheels that gets me from Point A to Point B.

https://www.jdsupra.com/legalnews/taxpayers-that-paid-the-net-investment-24820/#:~:text=July%2013%2C%202020-,Taxpayers%20That%20Paid%20The%20Net%20Investment%20Income%20Tax%20Or%20The,Filing%20Protective%20Claims%20For%20Refund&text=In%20National%20Federation%20of%20Independent,exercise%20of%20Congress'%20taxing%20power.

@Erin Dorsey Robinson Yep, I see this as an opportunity for investors to firm up their personal balance sheets, build up a war chest of capital to deploy, and exercise patience in the short term (waiting for market fundamentals to erode in the intermediate term, and for deals to become more attractive) and exercise aggression in the long term (capitalizing on weakness in the market as sellers' expectations are forced to adjust). 

Again, a fun exercise.  

That's the plan so far, but still exercising other people's strategies like yours so I appreciate the info.

I am setting aside reserves so that when it happens, I am not in a pinch.Even though most landlords use cash accounting vs accrual, it would be a good exercise for every one to brush up on their accounting.  

@Jordan Workman nice work exercising your "deal analyzing muscle" - practice makes perfect, and being able to quickly vet the financials on these deals is an essential skill for any investor. 

Collections and DelinquencySec 34.21 (e)(e) The owner of real property sold at a tax sale other than property that was used as the residence homestead of the owner or that was land designated for agricultural use when the suit or the application for the warrant was filed, or that is a mineral interest, may redeem the property in the same manner and by paying the same amounts as prescribed by Subsection (a), (b), (c), or (d), as applicable, except that:(1) the owner's right of redemption may be exercised not later than the 180th day following the date on which the purchaser's or taxing unit's deed is filed for record

One needs to find balance through yoga, exercise or just quiet time, and the secret that NYers know is that we all take that time.