This is driving me nuts :) I wouldn't even care about the place, but the seller is a friend of a friend, and I want to see if I can help.

There are so many alternatives for financine without such presonal liability that the use of such funds is just plain nuts!

The tax lien purchaser is paid back by a fixed interest rate.So in a Nut shell you have to see how long purchaser has before he can take action.

I totally believe it, but it seems nuts that you have to work with a city or building dept just because you want to change GC's, especially if you're talking 30 days.

As exciting as it is to get started, pick the low hanging fruit and do something!  

But based on the original post you'd have to be nuts to agree to that.

Thinking through this it's easy to see how a property manager most likely won't make profit on the 8% fee, that just covers the monthly nut, but on up charging for maintenance and evictions.  

Keep in mind your income on a property may cover the nut and you may be cash positive but if your Schedule E shows a loss on the properties those will be considered liabilities to a lender who calculates income (again another reason an outfit like mine exists).

The land lease could be bought out as the values in the area had gone up so much but when they have  the numbers for the land as land is so expensive  now it just killed the flip transaction. so in a nut shell it depends

Or, if the property is current, you could always take the property "subject to" the lien and sell it to an end buyer that cannot get their own financing.For most wholesalers, however, those types of deals are not low hanging fruit, so they go for deals with plenty of equity to be able to sell the spread.Hope this helps