But if you put some work into the property and make it a better experience for them, you'll win them over.Keep in mind tenants know market rents better than landlords.

I've now spoken w my Private Lender who said the same, so once I win the auction, they have my deposit already, it will take just a few more days for Title to get me a Insurance policy, which the other bank/owners of property said is fine.

Considering the amounts, I'd hire real estate lawyer.I had the same tax increase this year - twice to 2017, but mine is $27K vs $10K - and I don't have a case because I actually bought it for that price.Market is pretty strong still and to get this value decreased, you'll need a professional.Don't try to do it yourself - you might lose a chance (unless you just bought it for $393K - then you win)

Step 1:  hire a competent real estate attorney.Step 2:  learn from your mistake, which imo is when you discovered the tenant was running an unlicensed, unsanctioned halfway house, you should have tossed him and his daughter out, along with all the 'youths with checkered past'.Step 3:  Consider it MANDATORY for owners/landlords to KNOW the state's L/T laws BEFORE leasing the property out. 

If you win in small claims court, you could be awarded damages as much as two times the security deposit.

If you can borrow it for 4, 5 or 6%, as long as your rate of return is greater than your interest rate... you win!

So i got the house for half that amount out of pocket.I see that as a win in my book.

You really need to go down to the city, tell them about the scope of your project and see if a permit is required for anything.There are several risks to not doing this:1) Incorrect work done by a contractor is not discovered.2) House burns done due to faulty work you have done.

Sometimes once someone opens a project up and sees what all needs to be done they just want out as they realize they didn't correctly assess the repairs or as others stated, ran out of money or realize they will.We bought a "cheap" house and then discovered that the renovation was going to be much more extensive than we anticipated.

So being out $10k is less than $18k and still a win in my opinion, plus you would have additional built up equity in the property.