Hello Dana, For that purchase price in Brooklyn, NY, you could be looking at considerable unknown expenses at this point.If the property is occupied, you'll have to factor in attorney fees and holding costs while you wait to gain access to the property.Furthermore, you could be facing additional costs related to title issues: open permits, violations, liens, judgements, etc.

I've purchased a few properties from you guys.

The land purchase will be one of the biggest tasks of your project.

Hi All,Just purchased my first property and moved from San Diego to Charleston.

If this is your first real estate purchase I would stay away from auctions, there's too much risk involved especially with where price points are in your market.

I manage many of them in Jacksonville, and have a lot of information on them.  

I purchased a PreREO deal from them about 4-5 months ago. 

However, achieving success in this space requires more than purchasing property—it takes strategy.

The information contained in this post is not to be relied upon.

There is no set time for the county to foreclose on the property via a tax sale, according to this article purchasers of the tax lien certificate have to wait 5 years, as the owner has a redemption period after the tax sale, so you could be waiting a while, and if I'm not mistaken, you have to pay the taxes each year until the 5 year period is over, then you have to file for a deed or file a lawsuit to quiet title.https://smartasset.com/mortgage/how-to-buy-tax-liens-in-cali...Hope this helps,Dustin