Daniel: Not sure what the Laws are in NY but in most areas for you to take possession / Closing the Title company or Attorney would be amiss If they did NOT bring the taxes up to Non Delinquent Status .

I would  purchase the property in your personal name first and then transfer to the LLC after you have possession of the property and are looking to take on tenants to lesson your overall risk.

Another issue up here is if its owner occupied it is tougher to get rid of or take possession of the 'unit' if they abandon it.

If you go the route of hiring someone and that person makes a commission from renting a house, check with your local real estate laws as often times that person would need to possess a RE license.  

After that, they've lost their rights to possess and face eviction if they don't vacate voluntarily.

Talking up the headache you will rid him/her of and getting together a game plan before you take possession will allow you to accelerate your repositioning moves!

I look to leverage my talents with others who possess skills & knowledge that I don't have. 

Would I still be able to lock this property under contract and assign it over to a cash buyer who would essentially take possession and take over past due payments?

I would like to know if I can legally possess the land with a tax lien certificate and at what date would I be issued a tax deed?

Or is it simply that you think your profits would be higher if you take possession and list it on the MLS as compared to selling directly to an investor?