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

I was trying to get started, had all the information but needed to pull the trigger to get in the game. 

If anyone who is knowledgeable, please chime in so I can relay such information to my friend so they can have proper step to follow.

There is no background information.

Here are a few suggestions on how you can maximize the wealth of information available: Check out the blogs and podcasts, or take advantage of the search feature (magnifying glass).

Folks with zero experience unless that have CASH to buy the land and build are not going to do anything with the information without financing and well vertical development financing is basically not available  for beginners.

when I informed the tax lien purchaser that he did not purchase the house, only the tennis court lot, he did not believe me.  

Youre with WAY too many options and decisions at one gulp.

Two things I remember that probably don't happen today: -First property was a no-doc loan, technically low doc because you still had to provide information but with 30%+ down pretty much anything you wanted was yours.

Could be a business decision based on keeping long-term high quality tenants rather than risk the costs on turnover.