County Tax Sales - Newbie Yay or Nay?

[Maileen Calhoun]

Has anyone started out in investments by buying from local county tax sales? I live in Illinois and am looking to secure my first investment. The local property tax sale is coming up in November. Since I live in the area, I'm pretty sure I can evaluate the properties quickly and narrow down which ones to pursue. But, this will be my first tax sale.

In preparation for this sale, what due diligence should or can be conducted?

Thank you in advance for any insight.

Cheers!

[Maileen Calhoun]

@Jonathan Klemm - The sale will be in Danville, IL for Vermilion County. It could include properties in Westville, Bismarck, Oakwood among other smaller cities. I'm still trying to navigate through the available resources, but my basic understanding is that the minimum bid is the back tax plus interest. 

If I am the winning bidder, I would be required to pay the county immediately. I would then receive a tax certificate in return. Illinois has a redemption period of 2.5 years. If the original owner repays their tax debt and wants to redeem the property, they would owe me my money plus interest. If the property isn't redeemed after 2.5 yrs, I can foreclose on the property. 

It's the long game but I think it could be a decent opportunity to get a couple of properties under my belt.