It will help, but will not cover it.

If it was a huge liability, it would be one thing, but it's a very modest house and very affordable.Cash Reserves: Easily able to put 25-30% down on our first property in the price range we are looking for with enough to cover the holding and rehab costs.REI Aspirations: SFRs, passive income to cover living expenses and re-investment and, of course, financial freedom.Questions: Even though we have a lot of student loan debt at low interest and banks would be less likely to give us more than a few loans on different properties, wouldn't it be a step in the right direction to at least obtain a few properties to start the process?

So you need to establish if the seller has sufficient equity or cash to pay it as its his debt not yours.second off you would simply raise the price to cover the lien.. are you looking at a 203k loan ?

I highly recommend Matt with Floor Coverings International.

I would still file one even if "rumor has it" this will cover your butt and you are not breaking the law.

What contracts should be used in order to cover both sides and certainly make your prospective lender at ease of the situation?

I don't know for sure, but considering the price, age and required maintenance of properties in that area, im willing to bet you're going to have a negative return for this year and each of the next 5 years until rents cover your expenses.What is your investment goal?

Sure you could list every item on an inspection report "chip on light covers", "dirt buildup in basement corner" and request them all fixed to end it, however you can't just say "I changed my mind".

I have someone who covers most of Bergen and some of Passaic county.

A properly constructed liability insurance policy will pay for your defense if a suit is filed that relates to a covered loss.