In the Bigger Pockets free book, "Real Estate Rewind", as one of the 11 co-authors I wrote about one such Tax Sale purchase and made money but not enough money to warrant the risk involved.

I guess it’s like free advertising.  

Keep in mind it is a risk and speculation, if something happens(market tanks, job loss, etc) then you will be out money.

And any risk of messing up due to ignorance. 

App=Spart...If you need a tool to run your deal I have created this free tool that you can use btwhttps://real-estate-tools.com/real-estate-deal-calculator/?

Hello @Dana Gaglion,This is not legal advice... plenty of great attorneys in NY will offer a free consultation so I'd recommend going that route.

I suspect the owner could sell the property to a third party free and clear of your lender's claim to the income stream. 

I have a very low risk tolerance for stock and many other market driven vehicles. 

It will teach you so much, has the best financing options, least amount of risk, and will let you know if you want to be in this business or not. 

I own the property free and clear and i use the equity as part of my business line of credit.