And the fact that your post had at least three votes for it when I posted this shows that there are lots of other people who would probably be losing in PA under those same assumptions that just happen to be FALSE in Pennsylvania.Pennsylvania has some rather complicated rules when it comes to tax sales; the particular type of sale that the OP purchased at is one that does not divest any liens; it simply changes the party that is the owner, with the new owner taking title subject to all liens and encumbrances of record.With tax sales, the buyer must be aware of all the local rules under which the tax sale is being conducted, because the rules vary all over the place.Now, what the OP seems to have failed to do in his research was to cross index the recordings at the county recorder; the "missed" mortgage would have showed up on a search by parcel number if that sort of cross check was done (and assuming all indexed documents at the recorder are properly indexed of course - I have seen mistakes made attaching a document to the wrong parcel).

Yea, I'd love to call and maybe change your mind with our processes 

So, things change a bit.If it is his personal home, there are more restrictions.For an investment property, if you take over his financing, read through the deed of trust (mortgage) and see how they handle transfer of ownership.

Lots has changed over the years.Managing it yourself from a distance can be done, but it will require your team to be built and for you to have back up strategies if guests need attention and you're unavailable. 

And >90% of time, the answers change....... 

So if there are any issues, I'll see those upfront and can adjust my plan as needed.He has already mentioned he's ok with me removing the tenant or raising prices if necessary.See my other comment regarding Deal Calculator change and maybe presenting an schedule rent increase option for the current tenant.

Don't forget property tax implications to a possible change in ownership as well, and whether formation of an LLC as a rental can help with property tax savings or not. 

However, I think some upcoming life changes may be the right opportunity for me to dip my toes in the water in real estate investing.I live in Pflugerville, TX (25 minutes from downtown Austin) and will soon be moving to Portland, OR, for my dream job.

@Melody Everett-Neddo Yes, they changed the website. 

These are cheap properties, probably in sketch locations (since that's where cheap properties are) so even a huge increase in appreciation % doesn't translate to a huge change in absolute value.