I'm sorry to be so blunt but if you don't know how to total up all your annual expenses and divide them by your projected income to get a cap rate you should not be investing in real estate.  

They usually auction unpaid property taxes off annually anyway.Laws vary by state but after a certain amount of time has lapsed you can take action to claim the property.

@Heather Ippolito  if your taking the data from the MLS listing they are listing the annual tax's not monthly  .. what you do need to figure out tho is if the tax's are low because of owner occ status and will they rise when they are turned into rentals.In many states owner occ's get about a 50% discount compared to investors.. they get it through their homeowner exemption...

If I have 5 rental properties in Las Vegas but I make less than 66 2/3% of the average annual wage, do I need a business license?

Will you have to pay annual fees to the State if you don't reside or own property there?

You chopping down their already low commission will resonate in their mind and they might bring the deal to someone else.You saved 395 but lost maybe 20k in equity in a great deal not being presented to you.If the agency is selling an REO they have to belong to REO bank asset companies and get hit with so many annual fees it isn't funny.

I've found the annual Tax Sale Auctions have become too competitive in the last couple of years, some prices above what can be purchased on the open market.Congrats on getting your first note at the sheriff sale.

You have to remember that a lender makes money by velocity of churning their money and usually wants to see 20% or better annually. if you keep this in mind when presenting you could see if the deal makes sense.

The insurance company I'm currently working with is coming in really high (~$2k annual premium) as they indicated that it's difficult to find insurance carriers willing to take on the vandalism and property loss risk. 

My partner however has substantial income, north of $500k annually and ~750 FICO. 1 mortgage for personal home ~$5k/mo.Thanks for reading!