Buying a house with a tax lien

[Ryan Cheung]

Hello,

I went to see a home in North Bergen today that is listed as a 3 family home. However, the agent said that it can be legally a 4 unit home, with an additional unit in the basement. This house is at a good price, but when we arrived, the agent mentioned that there is a $66,600 tax lien on the house. What are my options for dealing with this? Would the only solution be coming up with the cash for the lien before I can move forward with the FHA just the price of the home? The following are some of the numbers on the home:

Asking Price: $325,000

Tax Lien: $66,600

Renovation: $50,000

ARV: $480,000

Rental Income

Unit 1: $1,650(Unit I will be living in)
Unit 2: $1,650
Unit 3: $1,100
Unit 4(Unit to be added in the basement): $950

Total Rent: $5,350

Taxes: $11,600

I think that most likely, I will have to pay cash for the lien before we can go forward with the FHA loan on the actual purchase price and rehab of the home. Since I do not have $66,600 in cash for the lien, does anyone have any creative financing strategies that I could potentially use to pay off the lien and purchase the property?