Among the criteria the Seller should consider in evaluating whether a property is a principal home domicile are the following:It is occupied by the owner for the major portion (51 percent or more) of the year.It is in a location relatively convenient to the owner's principal place of employment.It is the address of record for such activities as federal income tax reporting, voter registration, occupational licensing and similar functions.It possesses the physical characteristics to accommodate the owner's immediate dependent family.

The only differing characteristic of an IRS lien that is set by federal law is the fact that IRS liens come with redemption rights.

You hopefully won't lose much in that gamble but that is what all tax liens are, a gamble.

Dont want to gamble it and I intend to access it at 10k downs for low end properties.

Gamble you'll need to consider.

Here’s hoping the peak will hit mid to end of April as the experts suggest.This has similar characteristics of 2008, except the government has stepped in with assurance for individuals.  

Beyond that... yeah, it's a gamble.

NO... the point is that the characteristics of Cash Flow for an income producing Asset that may or may NOT be financed should NOT be on the Asset.It's not the Investment that Cash Flows... it's the INVESTOR that Cash Flows the properties.I have bought most of my properties where I decided to allow the properties to break even or maybe slightly cash flowing initially.HOWEVER, I have been buying in Brooklyn, NYC for 23 years and own approx. $20 Million in RE today.Today's Cash Flow FAR exceeds any break even or negative cash flow I initially have had when I originally purchased the property.I will say that generally, when someone tells me that a Property is Negative Cash Flowing which is a bad investment, I generally don't correct them that it's the INVESTOR that Cash Flows the Investment.

What can you say...people like to eat, shop and party when they get a few bucks in their pocket and, contrary to popular belief, there is much more to do in Las Vegas than gamble.  

A partnership is fine at the start, However, You will really need to call the Texas Secretary of State and verify for yourself, Do not gamble on the Info you get on the internet,  Secondly, You need to safe guard your personal assets, Meaning you need to be at least an LLC, just in case things do not work out, If you are an LLC, and you have financial problems at any point, The LLC will protect you.