Ranges may vary, but I think another 5% is sufficient. 

@Scott Taylor   E & O = Errors and Omissions  insurance.. virtually every realtor has it.and if you make a monetary claim against a realtor they usually turn it over to the E & O carrier if the claim is sufficient enough.. many of these policies have 5k deductables.Also in most forms and we are going through this right now on a deal I am the seller on in PA were the buyer literally backed out day of closing and wanted their 10k back.. and of course I told them no greaking way.. so we are going to mediation.. and mediation is cheap there only 250 an hour.. the buyer has not appointed an attorney and my Agents will represent me..

You will sleep better not relying on your tenants to pay your bills.  

Personally, I don't think I could sleep at night if I was actively acquiring new debt on rental properties when I had $200k+ in student loan debt hanging over my head.

So you need to establish if the seller has sufficient equity or cash to pay it as its his debt not yours.second off you would simply raise the price to cover the lien.. are you looking at a 203k loan ?

Also searching for a multi family property for long term rental / hold.I live - dream - sleep REI.Looking to meet like minded folks!

If the IRS, in its sole discretion, decides the property has value to recover a sufficient amount of that tax balance, whatever it may be, they can redeem and take the property and then sell it to recoup.  

To acquire the property, the buyer will need only $702,000 in equity plus amounts sufficient to fund the seller' s replacement reserve, insurance and real estate tax escrows (such escrows are held by the lender for the borrower' s benefit).Would that mean you only need to come up with the $702,000 to purchase? 

Buhl is 16 miles to the East of Twin Falls, and I feel is a sleeping giant.  

You likely need to be in a very hot market to have a sufficient buyer pool at this price point.You do not state the condition of the property.