Could I buy it from the homeowner for the amount of the lien, or should I wait until the lien holder takes possession of the deed and buy it from them?

For example, I tried to create a website and I learned that I do not possess the skills (or the patience) to create the type of professional and polished website that I wanted.

She has not taken possession of the home.

But also keep in mind there is often a "perfect world attorney answer" and a "real world landlord/PM answer", and you have to figure out what the risk is and if it's worth taking possession of the unit. 

POSSESSION.

(Additionally, Case law has allowed the inclusion of water charges when calculating monthly rent when paid by tenant with rent)Section 5321.16 | Procedures for security deposits.Ohio Revised Code/Title 53 Real Property/Chapter 5321 Landlords And Tenants(A) Any security deposit in excess of fifty dollars or one month's periodic rent, whichever is greater, shall bear interest on the excess at the rate of five per cent per annum if the tenant remains in possession of the premises for six months or more, and shall be computed and paid annually by the landlord to the tenant.https://codes.ohio.gov/ohio-re...This is why we (and all the other landlords I know) quit doing pet deposits and started doing 'non-refundable pet fees' 

Had a tenant die and took possession of the home… dead cats, animal feces, bags of trash….

However, if the tenant doesn't want this coverage, I'm OK with them not have any personal possessions or money for a temporary place to stay.

You’ll then need to reapply once possession changes.

If nobody redeems it, then I get the deed and take possession.