Check out this duplex in Seaford, De214 E King St, Seaford, 19973 on realtor.com Just for exercise purpose run the numbers.

I would like to say it only felt like 90 days :D In NYS the IRS lien is superior in that even if it isn't recorded first, they still have the right of redemption to exercise if they choose.

I've always exercised the idea of real estate investing but never had the capital.

You would then share a copy of the estoppels with the Vendor and work through any discrepancies between the estoppels and the information supplied by the Vendor.You would go through a similar exercise with any service/supply contracts for the property (i.e. snow removal, janitorial services, HVAC, leased laundry units, etc.). 

There are numerous things that can happen over the course of 30 days (usually the time between when we take the application and close) and many more things can happen over the course of a year or two when the leasee wants to exercise the option to buy. 

I'm glad I went through this exercise, it taught me a lot very fast. 

Not sure if they would exercise that right but they can.Brian

If I was house hacking I would not need to put 25% down and I would be able to get a better rate but for this exercise I will use my numbers mostly because I have already worked out my numbers (it is easier for me because I have the real calculations that I have already performed). 

Don’t buy someone else’s problems, exercise caution.

You will need to negotiate how much of the lease payment goes towards the purchase price when you decide to exercise the option.