Quote Originally Posted by bailey View Post
Or it tells us that in order to be able to pay the exorbitant taxes based on inflated valuations he must charge a rent that no renter will pay in the Detroit market.
In that case, the question remains: why is he still in the Detroit market accruing delinquent taxes on a constant basis? According to the story approximately 1 year ago he bought a house for $1050 that somehow accrued $26K in taxes and other fees in that same one year. It is a business plan albeit a fairly poor one. It appears to go like this:

a) buy worthless house
b) accrue taxes and fees[[not paying water bill/not bringing the house to code)
c) have house go into foreclosure, buy back at auction
d) screw honest tax payers
e) profit!!!!

He could buy houses in his native Clinton Township where taxes on his undoubtedly palatial estate do not even equal the oppressive $4000 he pays[[ or doesn't) in Detroit. In that place he could charge a decent rent that would cover the taxes but instead he would prefer to do business where he can get over on you. His business model is to make you cover his business costs while he gets the profit. I am sure he views his neighbors on Fairmount as suckers.

The saddest thing about this is that by not paying your taxes you lower your own property value and make your properties less rentable.