Rich -The reasons I'm buying properties in Rapid City are a) cash flow opportunities are few and far between in the Portland area (the 1% rule is almost unheard of, much less 2%) and b) my father in law lives in Rapid City and manages the properties for us at a very low cost.Don -I don't know the answers to these questions, so I guess I have a lot more research to do!

Moreover, it is not unheard of for Lender A to require contribution in order to settle.

It was a duplex at around 265k, which is unheard of in Portland's market, specially that area, because things move fast and usually go for higher than ask. 

A call is what is utilized in the traditional lease-option; the put, on the other hand, is virtually unheard of in the world or real estate.

In Austin this is unheard of...40+ out of pocket and diminished cash flow.  

I do not know if this will help, but if you want to know more about Texas REI and Liens then this is for you.I was doing some research and found this Power Point--and it is worth reading: "Lien Priorities and Post-Foreclosure Redemption Rights" https://www.stewartaffiliates.com/download/575/2012_Pdf/051712.pdfI believe this is written in 2012: gives concise information about all tax liens specific to Texas, some rare, and some unheard of. ?

Seconds are unheard of in most instances.  

Buying Multi's with financing in place and no money down is unheard...not difficult at all in the SFR world.

Unless this is a grand-slam, like unheard of returns, why even bother with something you're already uncomfortable with and questioning when there are likely any number of Sponsors out there who have similar returns, experience, etc. without the large institutional investor?

It's not unheard of for folks to do multifamily deals with less than 20% or nothing down.