That happens when the option is exercised. 

Also negotiating with the owner a lease option so I don't have to come up with a huge down payment and I could choose to exercise the option in a few years or so. 

and then see what kind of property taxes the cities and states had.From the lists on the image attached, then I'd narrow it down to areas less prone to natural disasters.This was a small exercise I did, and I am sure people will agree and disagree with many of the places but hopefully, it's a starting point for a debate and we get more experienced investors to give us their two cents.

If you change the name, you risk having the Due on Sale clause exercised. 

You are paying for the right to buy the property sometime in the future and you may or may not exercise that right.

@Ted L.I have been involved in several hubzu transactions and I think they will exercise some common sense.

Im not familiar with your market, but I would also advise you to exercise caution when dealing with homes at this price point.

In the last 12 months I made a few slight changes that made all the difference 1 no achahol for 6 weeks 2 go to bed 1 hour early and get up 2 hrs earlier 3 limit tv and friend time.4 EXERCISE YOU CAN ALSO INVEST WITH OTHERS AND GET SOME $ WORKING FOR YOU

You may be waiting on the family members wanting to exercise their claim, perhaps probate.

I would also advise him to take his tenant to small claims court, if necessary, for the simple exercise of letting the tenant know that every move they make that does not conform with his rules will be painful.You speak of eviction as though it is the only recourse, it is not.