They love the idea of wealth, financial freedom, but don't want to put their own financials on the line.

You could also get a line of credit for about $150k (you should be able to borrow 75% of the value.)The reason I suggest this is…1) you save $40-$60k in selling costs. 2) you have a lower blended interest rate (2/3rds at 3.25% and 1/3rd at 7 or 8% instead of the whole $500k at 7 or 8%) saving you another $1k/mo in interest. 3) you only pay interest on that $150k when you actually use it, not from day 1  Unless you hate this property, or want to buy something you can’t afford without selling, that would be my plan.

Did you started working on it?

Also, I wanted to convey that the type of investor I describe should on;y accept a quality tenant well above what’s typically considered acceptable in the industry.  

Quote from @Jed Butikofer: Quote from @Henry Clark:   On line look for property listings that aren’t in the auction  I have researched as you suggested and found a pretty good understanding of what these property tax sales are and it looks like a great opportunity.

I am a GP on one of their deals.

Really depends on what they are looking for as well as long term plans.

All I know is that I have a shitton of large cheese pizzas on the line.

I would only underwrite based on actual rents not proforma.

@Cameron Moore I knew I could count on you for a legit answer.