I understood you were looking for the answer to do it the right way… I just wanted others to understand what their actions may cause...

Keep it simple.Never understood why someone has to go to a week long seminar to learn all sorts of investment strategies.

understood, thanks that helps.Also, I just came across some threads that discussed loans under 50K (or so) being hard to obtain?

This is why I posted this question in the Off Topic section as it is not a real estate question which I understood that.

Just make sure what you expect is clearly understood.

I assumed we were talking about purchasing tax liens - but I shouldn't assume anything.As for the bank honoring the check - I understood the OP to ask whether the "conditions" placed on the check would legally bind the payee to transfer the lien to the payor.

Jeff,I've read a lot about people doing much more expensive rentals, and there are lots of folks in town here doing them as well (further east, where property costs a lot more) but I've never understood the math.

Now if you have understood all this, you can clearly see why a bank releasing all REO's would be disastrous for the bank.

Understood Brian and sorry if my post sounded like personal criticism.

I understood Shanequa to ask a general question that might have come to mind in light of Mike's situation.