If there is an IRS lien and I decide to try to purchase a property anyway, is it better to wait until the IRS's redemption period expires before trying to do the quiet title process, or is it better to do that first?

If every applicant wanted to pay lower rent, and I was unable to find an applicant after an extended period of time I would relist it at a lower rate.

You never know how many keys are out there period.

Your building Inspector may provide with any problems during your due diligence period. 

It sounds like you are willing to spend a few thousand dollars on education. 

@Vishesh Shah--You're in a tough spot, especially because it's FHA.My understanding is that an FHA appraisal sticks with the property for a certain period of time, so even if you found another buyer, the previous appraisal would still be on record and tied to the property assuming they were also an FHA buyer.You can certainly appeal it, though I'm not sure what the timeline will look like.

I want to become an educated, well rounded wholesaler and investor.

I agree with you in certain markets that don't appreciate the returns are only what you can make on cash flow over a long period of time and you never have to sell or recapture deprecation or have major cap ex either of those will kill your returns back to next to zero.but you take high appreciating markets and these charts are not accurate at all. its the dead an dying or non appreciating markets that weigh down the US averages.. any property bought in say SF or SF peninsulas back in 08 have basically gone up 4X  and or more.. other areas say Detroit or other cities that saw mass movement out of area .. properties peaked in mid 90s and have been going down ever since .. with the exception of the craze to buy SFRs as rentals by out of country or state investors this has propped up values in these areas.. 

Can't be left on the street for more than a specific period of time. 

For certain areas like Frisco, W Plano, and Irving, I have a lot of investors who are willing to pay premium in those areas because they intend to hold on to the property for a long period of time in which the equity value will increase more than other areas.