Buying land at a tax auction.

[Ryan Taylor]

At tax auctions for land in South Carolina that are delinquent on property tax is held for auction and you pay the taxes for the year on the land. My buddy just paid on two lots. One for 400$, and the other for 700$. The owners have to pay him back either 3-6 months or a year after he paid their property tax and they have to pay him at 3%, 6%, or 12% interest (depending how far out they pay him back) or he essentially gets a 10,000$ lot for 700$. And it's in a trailer park so someone could pull their trailer on the land and pay him rent essentially, or he could buy his own trailer to rent out. Do any of you have any advice on this? Just general tips and advice is all I'm asking for. Thank you.