Ed, there is not enough information to answer your questions.did you foreclose the right of redemptionhas the judge sign off on your tax sale certificateis the property occupied or vacantdo you have to file an eviction of the existing owner or tenantdo you have enough money to foreclosedo you intend to get a mortgage on itI have done many tax sales deals - my objectives could be ..... 1. sell it now after legal ownership is acquired2. clean it up and sell it for a profit3. keep it to rent4. offer it at public auction - let others bid against others to push the price way up5. sell it back to the owner6. put together a joint venture - raise money to renovate it 

One thing that you can do is create a joint bank account and then both put the funds into that account.

In a few years, when he moves out would continue to jointly own the investment property.

If the deal is small enough and all investors can stay actively involved, you may be able to do a joint venture and keep your costs low.

I think what you are looking for is someone trained in the ways of real estate investing - an agent that will:Introduce you to FSBO's - Expired Listings and other real estate opportunitiesWill be your fiduciary representativeWill make offers for you on suitable real estateWho understands creative financing; delayed settlement, seller assisted financing, assignment, wholesaling, REO, tenant selection, soft money mortgages, tax salesWho will be responsive to your financial goals and a person of integrity and trustHelp with direct mail and street marketing to locate transactionsHousing and rent court marketingAbsolute aware of financial and contract clauses as well as contract engineeringCan assist in - delayed settlement - automatic extension, performance mortgages, subordination, principal mortgages, options and joint venturesAware of bidding on REO, forclosures, tax sales and public auctionsUp to speed on commercial real estate, lots and land as well as businesses with real estateHow should you treat this wonderful person (if you can find one) -They should have a commitment from in the form of a Fiduciary Buyers Brokers AgreementYour agreement to pay them a commission on any non-listed deals they bring youA bonus agreement for great deals that you closeA gas budget - or a cash payment for gas Kind words and respectTo be sincere and active with the agentRespect from youFirst class training on how to represent youSometimes an equity interest in the great deals the agent has initiatedListings when you are ready to sellYour cooperation - all your financials, tax returns and other information that will help your agent close dealsA few free lunches ----Good luck --- Charles

I have one rental in Louisiana and when we got flooded... the rental lease is not in effect anymore as the house is not live able.... it's a pain if u don't have insurance.... if ur renters are good for it.... at least ask them to take out their stuff in the curb... a lot of renters just here just left.... and landlords has to do all the hauling away of their thrash too...On the gentle note.... pls be cautious when talking with renters... pls be kind and understandable that they too lost a lot of their possessions aside from the fact that they might not have a house to rent as housing demand will be very high....

I know it sounds great on paper.. and it may work and if this is only 5% of your available cash you can take the risk.. but if this is the majority of your investing cash I say risk is simply too great ... .listen to @Curt Davis sage advice he has been around the block for many years and is not trying to sell U something like all the rest of the folks posting on this thread.

If u have that type of capital a little research into the top 5 fastest growing cities in the us will pay off for u ten fold.

It's NO NO NO, can't be borrowed funds, it's got to be seasoned funds.Fortunately, my wife helps her mom with banking, and had joint savings account with her mom for many years.

If you want to make more money in the future, you will have to step up to higher price points or absolutely steal a deal (not going to happen if u shop on the MLS.