I am second-position mortgage holder on a commercial (non-residential in any way) property in Allegheny County, Pennsylvania. 

A lien is a payment obligation that has been attached to real property -- either through the recording process (in the case of a mortgage, deed of trust, mechanics lien, etc.) or pursuant to local law such as by the entry of a judgment, issuance of a water/sewer or tax bill, etc.A foreclosure is what the lien holder does to enforce the lien in order to obtain payment -- this is done through a forced sale of the property.

Without going into too many details or mentioning any specific sources that cause posts like this to get banned by BP, I'll just say that I have access to a very, very large database of off market properties and I have the opportunity to reach out to these property contract holders and do JV deals with them.

If the seller is an owner occupant, he may have an LTV much higher than any investor can obtainThe main benefits to a seller is that the transaction is quicker than a buyer obtaining new financing, and that he may get a higher price because the buyer does not have fees associated with obtaining a new loan and the buyer may pay more for greater leverage or pay more if he can’t qualify for a loanThe downside to both is primarily that the buyers equity can be wiped out if the note holder accelerates the note, further the seller now has liability on a note secured by a property he does not own.

Any thoughts on using an LLC to set up a lien on the property in essence the LLC will offer you a HELOC or just a loan on the property as a junior lien holder?

If a wrap is being used, and the existing underlying note is not assumable, then the note holder can accelerate the note at any time, demanding a payoff in full in a time period compliant with the laws of the state the property is located in.Many states, like Texas have state forms in which the blanks can be filled in to be used for an offer on residential property.

The statute FL 475.42 says, "A person may not operate as a broker or sales associate without being the holder of a valid and current active license therefor," Check.

With private flood insurance there is always the possibility that it can fold by having more claims then money to pay them out and the holders of the policy would not have any recourse since its not back by the government.

I am just frustrated over voucher holders start looking for homes before they are actually ready to move. 

While the redemption period in DC is up until the foreclosure is issued, after 4 months, the tax lien holder can begin the foreclosure proceedings by taking the necessary steps such as having the post tax sale notice posted and waiting 45 days.