One of the many ways I use to to acquire properties that have been advertised for tax lien auction is to go directly to the property with the tax sale lien notice.If the house if vacant, I start my search for the ownerI try to make an offer to buy it or control it subject to re-sale by public auctionI sometimes make an offer to buy while doing a joint venture with the seller (I call it a hybrid offer)There are times when the owner just forgot to pay the taxes, or intends to pay them later or just buying some time until the property is sold or refinanced.If it is occupied, I just tell them that as a private service I wanted to inform them that they have rights during the tax sale procedures (I explain their rights and what options they have), many times the owner appreciates this information and may later call you to make an offer.I realize that while on my way to the tax lien property that I will be driving pass hundreds of other properties where I may see a FSBO or a vacant house that might be a prospect for me.I understand the Universal Law a Reciprocity and how it works, to give freely of your service or advise, the law says you will be rewarded sometime in the future when you don't expect it.Helping other is something you can feel good about.Being active in the field is the best way to find good deals (better than letter writing).

It's a 3b/2 full bath, new interior and exterior paint, large master bedroom w two closets, large breakfast bar in the kitchen, fully jetted massage walk in bath, on the corner of a quiet cul-de-sac, in a pretty good school district. rentometer has it's median at $1219 and zillow has it at more like $1450, which makes a difference in the numbers.

Sometimes I see boards become frustrated with off-site owners/investors that don't follow move-in procedures and if your tenants aren't familiar with the community rules (which is your responsibility to inform them of) that tends to annoy board members.

Until the debtor's collateral has been legally sold by either judicial or non-judicial procedure (as applicable) the record owner's rights remain.

Hello,so I recently got under contract the following property located in Southern Utah (well, we're still waiting for the bank to countersign, but they gave their verbal approval):- Fourplex built in 1996, 5400 sf total (so each unit about 1350 sf)- 2 stories - 2 units downstairs and 2 upstairs- Short Sale- Contract price: $51k- 3 units rented at average of $550/month (market rent, if fixed up: $600), 4th unit unhabitable- ARV if there wasn't a foundation issue (which needs to be disclosed to a future buyer) would be somewhere between $250 and $300k- Value of the land (about 0.25 acres): $10kThe property was apparently built on soil that is rich in gypsum, and the proper procedures were not followed at the time (the proper procedure is apparently to excavate the soil down to a certain depth, then replace it with new soil that does not contain gypsum).Poor drainage around the building caused water to get into the ground, which washed out the gypsum and the property started sinking.

This is standard practice for the funding platforms that are doing the right way IMO.  506(b) can be used by the portals, but many that are using this exemption are arguably advertising and should be using heightened screening procedures.  

If you're going in the rental income direction, right at the get-go put on paper your: Tenant qualification criteria, Move In/Move Out procedures, your Eviction procedures, your maintenance procedures, and build them all after researching all your state's landlord/tenant laws.

In Oregon, for example, a land contract that's been defaulted upon can't simply be "yanked" and the occupant evicted, without  properly terminating the land contract; I've been told the procedure is similar to a normal foreclosure.

There are common law remedies available, but they are subject to change based on local rules and procedure.

This is standard operating procedure for a closing although a foreclosure closing is more of a you give the Trustee cash and they provide a foreclosure deed.