The tenant stayed for 5 more years through subsequent rent increases until they bought a house.

Perhaps it is time to introduce your $50k offer to him (subject to your subsequent inspection), which he should HAVE TO pass on to his Seller.

The powers-that-be can regulate all they want...as long as there is a free market, there will always be speculative excess, and there will always be the subsequent return to the mean, as it were.

You must hold the lien for three years and pay subsequent years' taxes as well.  

I agree with you 100%.It seems the abiding tenet in life and subsequently in real estate is to see what can't be obviously seen.

Subsequently, we hired a management company to handle the property and were able to rent the property quickly (They charge first month's rent and 10% of rent thereafter).

You will have to pay for a plat, then a subsequent survey (the difference between a plat and a survey is the plat does not outline the structures, the survey does) to borrow money with the property as collateral.

Barely a week later, I meet 'wife's mother (who flew in from the midwest) at door who explained her daughter's boyfriend needs to stop lying to people, that his real situation is they're not yet married and were living in a converted garage and he left the kids home alone while wife was also at work and police were called because one of the kids somehow was found alone wandering the streets and subsequently placed in foster care til she (mother's mother) came to LA area to file for being their legal guardian in the interim.That LA Child Services would not release the kids back to the parents, but agreed to place the kids with a relative if the relative owned or had a lease on an apartment within Los Angeles County, so he found my Signal Hill 2-bedroom apartment (in my 2-family house) for her since they could not use the converted garage as a safe home for daughter's mother to take over the 'lease' on.  

I'm also setting out to build my wholesaling business...and probable subsequent rehabbing arm.

:Try aimloan.com, their limit is $25,000.quick search returned their site and each subsequent site was "complaint or buyer beware" warning.