get the heloc on your present home in place  first   so you have it to use  as needed ..the payment from the HELOC  wont  be  included in  dti ratios  unless there is a balance outstanding ……..also  get yourself  pre approved for the  financing for the purchase of the next property  using the  hypothetical  purchase price / loan amt  you want to target and  also with using the  potential HELOC  payment in the mix  to make sure  all is OK for  approval

Ken - OUTSTANDING JOB!  

@Lorry Champagne When you apply to the tax collector to send a property to a Tax Deed auction....if your certificate was say $1000 and you had to pay an additional $5000 to redeem the other outstanding certificates and tax collector fees, then the minimum bid at the Tax Deed auction would be $6000, the money you already have out of pocket.If someone else bids that $6000 minimum, then you get repaid.If no one else bids the $6000 minimum, then you get the property/Tax Deed......that sounds good at first, but realize that means you just paid more for the property than anyone else was willing to pay.BTW,I agree with Ned, all these training/buyer clubs for tax liens are useless.....most of them are selling you junk liens that no one else wanted, or a lien that someone bought then realized it was a mistake.

Sellers must deliver their property free of encumbrances, including any outstanding loan balances, to qualified buyers.

You wouldn't be able to use another FHA loan to buy a second property while you had an outstanding FHA loan so you might consider refinancing. 

If so the money should cover most of the money outstanding of the 15k. 

Monthly pmt is 1.5% of outstanding balance.

I would inquire on the HOA to see if they have outstanding assessments that could be a problem.

Again, the agreement was between the bank and her... not me.If the land owner wants to receive the tax deduction, then they should refinance the outstanding balance and have the loan in their name.

I plan to make an offer of $265k (I have a few outstanding questions for the seller first that I will need answered).