For instance, if a buyer and seller agreed to owner finance $40k for 36 months and came up with an interest rate and subsequent monthly payment.

@Christian Bors In a subsequent post you stated "I just wasn't sure if someone actually checks to make sure that you are still occupying the property."  

Thought about having seller hold a note for 50% of purchase price, interest only for say 24 to 36 months; get a purchase price and ground up construction loan; rent out new units; refinance with cash out to pay off seller; and maybe a little extra to put into a subsequent deal?  

If you get the 1st year then you get first dibs on the subsequent years.

The new way that AZ handles the tax liens when the subsequent year is not paid is exactly how we do it in Louisiana.

IL has three types of tax sales and varying penalty rates and rates of return on subsequent years' taxes (12% per year or part thereof).Moderator note: self promotion removed.

So my guess is they made the loan and subsequently foreclosured on said loan.

So at 73 years old that easement would not be discovered during a full search unless it was specifically referenced in subsequent instruments such as deeds.Easements are perpetual and run with the land (from owner to owner) unless expressly limited by their language.Did you purchase an owners title insurance policy?

Seeing that all but my most recent acquisition is at infinite return ...I want the newer RE investors to realize that the return on their first RE investment is likely going to be exceeded on most (virtually all) subsequent RE investments. 

And subsequently, your score will drop as you start to look riskier and riskier.