The one in Vegas is just a place setter for a 1031 on a property I owned in North CA that I bought back in 95 for 27k and sold for 1.9 million in January :)   So well I will be the first to admit i don't know it all or have any superior knowledge over any other fairly experienced real estate broker/investor.. 

My understanding is the second mortgage lien against the property will be wiped out by the superior lien holder's foreclosure action.

., and then I just look to tap that market with a superior offering.

You should have a title company perform a preliminary title search, AKA search & hold, to make sure there are no superior liens to the one that is foreclosing.

The assessments are superior to HOA assessments (yes, HOA’s still exist inside CDD’s) and superior to first mortgages (bank financing).

This used to be a maximum effective tax rate of 39.6%.Improves your property value through the capital improvement plan you conducted.Puts you in a superior position to take advantage of the positive economic trickle down from the $1 trillion economic stimulus that will be caused by the nationwide reduction in federal corporate tax rates from 35% to 21%.

Just go to the Superior Court website for San Fran County (if that is in fact the county where your property is located:    http://sfsuperiorcourt.org/divisions/small-claimsYou can file yourself, minimal fee, and it will cost you $30-$50 to serve the tenants with the Summons and Complaint (the small claims suit).  

Investment Info:Small multi-family (2-4 units) buy & hold investment in Superior.

I'm happy to say in 3 years my experience has been nothing short of superior. 

In Texas, a tax lien is superior to everyone except the IRS and the IRS will sign off to the school district, for the sale.