Say the reason people came to the area didn't exist anymore.Say everyone came to a theme park and that park closed.

@Chris Martin Happy to connect you with my contact at Velur to learn more but they identify parcels adjacent to existing solar development (or residential, warehousing... different zoning options for diversification) and do the analysis on value, easements, zoning viability for development etc...they take their cut up front in the sale then when you get an offer for purchase down the road they help review the offer as well.

Where the letters aren’t outright fraudulent and lies, they are misleading, with the person selling or giving the proof of funds letter to the unqualified wholesaler doing zero due diligence on the property and at best stating that, technically, funds could exist and or be set aside for the purchase of the property,The practice, when used this way is meant to mislead, and those who ask for, give out, or receive, proof of funds letters in this way are not welcome here on BiggerPockets.The right answer here is to qualify for a loan on the property personally, and show this to a seller, or to be straightforward with the seller that you are in no position to buy the property personally, but will be wholesaling it for them. 

I am familiar with both upset and judicial tax sales in PA, where the former is subject to all pre-existing liens, and the latter generally wipes most if not all out. 

Plus, many cities in The Valley are exploring allowing ADUs to be built on existing properties that meet specific lot requirements.

This is a very broad question but to give a general answer, the reason why they exist is to finance properties that won't fit the typical bank credit box.

I am wondering if we have the grounds to pursue any legal recourse if the PM company refuses to take accountability for the existing property damage (dead grass) and potential threat of an unsecured property.Your advice/opinion is greatly appreciated.

The sewer issue has existed for 50 years but with increased population it keeps getting worse.  

Sometimes, there’s even newer construction being built right after nearby causing the home values of the existing properties to drop and rental numbers as there is always someone with better access to debt or lower acceptable margins than you.

Much thanks to anyone who can weigh in with their expertise.Not per se if purchasing existing paper, but the subsequent noteholder may face issues if requirements weren't met at origination.