Conclusion: I joined a "real estate Fund" in early 2009 (a Fund has several syndications/properties in it) and in 2009, 2010 and 2011 when the market was declining the fund still made the payments regularly without missing a beat to all investors.

I appreciate the insights and have come to the same conclusion. 

The conclusion I came to is that tax lien/tax deed investing is difficult because of the tremendous variability of the rules from county to county and state to state.  

Take it to the logical conclusion. 

I have already checked Property Shark and LoopNet and did obtained some information but it is not sufficient to make a conclusion whether the subject is worth investing.

I have pretty much come to the same conclusion as you have.

Although I would say never "jump to conclusions" about it.

So for example, he would have the seller to a multi unit property take back a first senior mortgage than then issue a note for the down payment with soggy terms which will allow him to go back before the note is due and ask for a discount for paying it off early.

It took them MONTHS to come to this conclusion, after making me provide them with all my information, only 2-3 days before the closing.Let us know how it goes, but I have lost a lot of confidence in banks lately!

You come to a lot of conclusions on your own.