I suggest you forget about notes, facilitating a note transaction in any manner, paper rights or anything, if you're not a holder can be broker notes, that's another world.

If you as a 2nd lien holder are defaulted on, you may be able to squeak by and not loose money if the borrower maintains the first.

Hey Flippers & Holders/Newbies & Vets,What is the best legal entity for flipping and holding (for financial and tax considerations)?

Moral of the story, you can not circumvent foreclosure.Barring details about the tenant buyers, why not just mortgage/deed of trust the property to them for the agreed price at a reasonable interest rate and be a lien holder?  

If there are any Realtors, Contractors, Wholesales, Flippers, and Buy and Holders, as well as Lawyers, CPA's and anyone who loves real estate—did I get it all—lets talk!!!

I presume you will be taking a deed from the holder of the tax sale certificate?

A release of lien will be sent by the lien holder, they have a statutory time requirement to do so, the release is usually sent to the borrower on the note, they will need to take it to the Recorder of Deeds and pay the filing fees to have it filed, at which time the release is perfected and clears the lien.

You can't be a note holder and a the owner of the collateral, get on one side of the fence or the other. 5.

Josh,The best bet with the second lien holder is to neg. a short Sale.

ABC Series A, LLC would be the holder of the note and property owner.