I do know that it isn't necessary to contact the owners but if I were holding the tax note I would most assuredly contact the owner to find out if they would like to sell the property.

But, I can assure you that sometimes things work out well.

Good for you getting out to the meeting Rob.Lest anyone think he is a shill I can assure you he is totally accurate.Ann and her partners put on 2 great meetings every month.I don't get out to the Worcester one that much but always go to the Waltham one (Next Tuesday FYI) and it is great.All investors should be getting out to some of their local networking events and for anyone in Massachusetts these meetings are as good as you are going to get for real estate education and networking. 

It's probably more reliable than appreciation but it's not assured.

Rest assured your actual cap rate won't be any higher than the claimed number.

Not sure if those were new construction buildings you saw but I saw a similar pattern while visiting a friend in Austin and I can assure they are not overbuilt...demand is much higher than supply there.  

A new lease in hand gives the buyer assurance of at least a year.

These are the factors that are weighed when a company thinks about lending you money.That being said, I can assure you that your HML does not want to take your property back from you.  

(Sorry for such a lengthy post, but I assure you we are coming to the end. ;-)) I myself, as the eldest, and the one whom all the responsibility has fallen to.

This way you are assured that the seller saw your offer.