Tenant history treats property like there own, consistent paying tenants.Purchase price $115kSeller will hold financing on 25% for down payment at 5% for 3 yrs interest only.Property will need about 10k in cosmetic work, seller willing to add in 10k cash back for repairs added to the seller financing agreement.Have a lender in place who can finance this deal at 75% with seller financing in second lien position.$3500 taxes$800 insuranceTenants pay all utilitiesWould be getting a commercial loan amortised over 20yr.Plan to use management team at 6%, that we are using on another property.What are your thoughts and perspectives on a deal like this?

You must treat every applicant equally as a landloard.

Basically, yes...As a general rule of thumb, treat your business finances as if they are a completely separate person...

I treat cleaning and maids as pretty much a crapshoot.

You're asking some good questions - treat this like a business, figure out how to fund this new business, and then how to scale it once you get started.

Take a peak at how they treat the inside of their cars...having a bad tenant will ruin the profit.

We treat flips as supplemental or "bonus" income.

It's a legitimate hard money lender, but is the worst of the worst when it comes to how they treat their customers.   

So my question is, could I treat this tax lien property as an "off-market" deal and try to approach the owner with an offer?

If they are offering you a product and cannot answer basic questions about it I want you to treat that as a "red flag".