If I spend more than 10 minutes on a property they are getting an offer for me it's standard operating procedure.

Major holding costs....insurance, taxes, foreclosure costs, etc. will be dependent on the holding time before disposition of course, and dependent on local foreclosure procedures and defenses raised in judicial areas.

A very simple procedure.

@Guy M.From what I've seen, carefully qualifying the tenant-buyers for loan approval within the time-frame of the lease option is standard procedure for lease option guys.

Being a 4 unit, it is also a different procedure than the regular smoke cert for 3-units or lower.

I have been emailing with one of the companies wholesalers and this is not his deal but he is going to meet me so I better understand his companies procedures.... sure he gets something out of the deal but at minimum we can start a relationship. 

If you rent to tenants who are on a program- ie: Section 8, or any other government subsidized program, make sure you understand the policies and procedures of the program. 

I don't know how real estate taxes are treated in your county, but I would ask your attorney or find an attorney that deals with tax liens on the procedures.

They claimed, this is their standard procedure!!

If you have good property managers with experience in this class of asset they should have well established procedures and you can avoid some of the mistakes we have made.