Wondering if this is common and what we should be wary of as the note holder...- We originated a note on a property (in Brazil, IN; Clay County in case that matters). 

Sometimes the section 8 tenants can come across as more entitled than non-voucher holders. 

In co-ops where subletting is allowed on a restricted basis, unit ownes/share holders can rent out their unit after living on the property for X years.

Further, even if the note holder were of a mind to allow an assumption, they'd want someone who would reside in the property, not an investor.That's not to say you can't purchase the property "subject to" the existing lien.  

This seems way too risky for any lender, who has the downside without the upside of an equity holder so the interest rate would have to be sky-high and even then, I'm not sure any lender would want to touch it.2.

If there's liability it will usually flow to the license holder.

Plus I have a serious soft spot for holder homes.

Meanwhile, nobody will "officially" purchase it from you since official records don't show you as the holder of Title.

If the holder of the Note catches on that the owner changed and wants to call in the clause, they will. 

If the certificate is not redeemed by the property owner within two years of the initial tax sale, the certificate holder has the right to initiate foreclosure proceedings.Despite what you may read on the internet from those selling "get rich quick with tax liens" schemes, you are by no means guaranteed a win.