So, what you propose is possible and has been done.

Upon exposure to "first sale" without getting the full bid amount, the tax collector (well the attorney for the collector) can petition for a judicial sale where some of the other liens are to be wiped out, so that it might sell for a lower amount.Now, what exactly are you proposing to the owner of this lot?

You've got to steer away from these conformists in the financial marketing world, they will not make you any money (unlike themselves).Now down the road you might go to the financial advisor as an expert on various aspects of real estate, with a proposal for how his/her clients can earn 8-12% returns with you, and you are considering accepting new investors that are a good fit for your program.

Some of the topics I was looking to get more info on are:-New legislation passed here in NV AB300, SB321, also the new law that will allow underwater homeowners to short sell their homes to themselves without an "arms-length" transaction disclosure being required.

As this is your first project, and your household income will significantly decrease once construction starts, my guess is you'd be looking at a lender that somehow is interested in the proposed project, would be willing to finish it if you can't (you've spent your reserves), and will be deinitely lending at a high cost.

Mala,On the surface what you are proposing is illegal.

There is already pending legislation to raise the percentage.Additionally the option is not always recorded.

Ryan, I think you have to take in to consideration more factors than the ones you proposed.

You do need to be licensed to do what you're proposing, unless you own the building being rented or are an employee of the owner.

You will likely need an architect to create some plans and elevations and/or renderings to show your proposed building will fit in with the neighborhood.