Also, I have a Real Estate friendly accountant whose clientele is made up of roughly 70% real estate oriented folks (and the majority of which are investors), and who invests himself.  

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Typically on the BP community, a COC of around 8% - 10% is considered a minimum for cashflow oriented investors.  

I recommend finding a investor oriented mortgage broker in your are and discussing your specific situation and what you might be buying.

I am a motivated goal oriented person. 

My goal here was more practice-oriented.

Find a seasoned, investor oriented title company that knows the ins and outs of the whole thing.

Absolutely work with an attorney to make sure the owner can't pull the rug--or in this case, the dirt--out from under you.

Is it okay to ask or require a new tenant to cover a certain percentage of the floors with rugs?

Can anyone recommend a good book or some detail oriented reading on investing in tax liens?