Please highlight and repost, because I'm guessing you are referring to someone else.

Few points I want to highlight, the 401K I'm talking about is with a former employer, so I'm not contributing anything to that plan and currently losing money (I had ~6% ROI within 7 years when I was employed with them). 

Here's a BP blog (written by my co-author Alex Breshears) you might want to check out that covers a little of the highlights of the C.P.R.

I am targeting the highlighted attached area to look for a buy and hold Single family home.

Quick answer - Yes, you can you purchase a tax lien from the current lien holder and then foreclose.Look at the IL tax lien foreclosure statutes for the specifics but here are the highlights (and I haven't reviewed the statutes in a while so these comments may be outdated).A real estate tax lien on improved property in Illinois has a 2 year redemption period for the owner of the property.

Thanks for the highlight!

What do you think about the possible solutions highlighted above?

However, keep in mind you opened up this thread in 2010 highlighting your displeasure in assessment value of a property repair value.

To highlight a scenario that seems to play out often in rentals owned by BPers, a tenant will decide its time to move in a dog, shady romantic partner, or acquire a new annoying habit that has any good landlord/PM ready to serve notice that they're violating their lease.

The highlighted years in the image below are the only years where Year-Over-Year prices declined over the last 36 years. 3 of the 5 years were during the "Great Recession", and one of the other 2 years was a decline of only .16%.