Is there anything owed on the property other than taxes?
What do comps look like in the area?
How does the neighborhood look?
If it is free and clear is the owner giving you the property for $2,500 only?
If it is not, can you assume the loan?
Have you had the property inspected by a professional to determine fix up costs?
What does your credit look like?
Do you have time and money to wait for repairs to be completed?
Etc., etc., etc.
I located a property where the owner owes $2500.00 in back taxes. We have a verbal agreement that if I have my lawyer write up a legal contract that I pay the back taxes, he will give me the deed to the home. The home needs a new roof and chimney estimated $10,000.00 need help financing the whole amount to be able to rent out. Please contact me for more details.