Most likely, no one is paying the tax bill, but someone has been purchasing the tax liens and it will eventually be transferred to the tax lien holder.

The cons are that you typically won't make as much as a flipper nor build up the assets and passive income like a holder.

It is a better coverage for the policy holder than "Actual Cash Value" (ACV).

Also, if they did have a lien, any junior lien holder would have priority rights to the surplus funds since their lien was wiped out but the hoa’s lien was not.In any case, the hoa was not Obligated to seek the surplus from the court, as opposed to collecting from you, even if they were entitled to it.  

They could essentially lend your LLC or send money to the title company directly and be the mortgage holder.

Tenant #1 went to the office and was told that he would be allowed an opportunity to join the lease pending the results of the app but also on the condition that all three current lease holders agreed to allow them onto the lease.

And so that you do not have actual or constructive receipt of the money.  3.Refinancing your properties and changing the title holder right before a sale and 1031 exchange is potentially one of the worst things you can do.  

Technically you are now the new title holder and subject to the First Mortgage.

You'd be a lien holder and you'd be entitled to protect your lien by paying the back taxes so as to remove the property from the property tax sale.

I realize the cash option, just had to make sense of it all because the bank is really the primary lien holder here, not the 6k HOA fees.