As for the outstanding amounts, they range between $150k-$250k.

The new owner of a property acquired through a tax deed sale may still be responsible for paying off any outstanding mortgages or other debts associated with the property."

Congrats on this outstanding deal.

Josh has done an outstanding job with BP and has the best small RE investor site on the internet, IMO.

We'll be able to include all renovations in the mortgage and can use any amount on repairs as long as the value after the work makes sense.So the way I see it we can pick up a nice place at about 65% of arv less the repairs and really do an outstanding rehab heres an example using my last deal's numbers.I find a place with an Arv of $380kI buy the place for $175kTo do a regular rehab might be about 60k but say I wanted to put about $100k into it.

Mike, IMHO there is no difference between the "forced savings" you mention and cash flow especially if you intend to buy another property with your "forced savings"Again, the point of my post is that I don't think the 50% rule applies in all situations and applying it strictly can lead to missing out on outstanding opportunities.I agree the 50%rule likely applies to older, less expensive, lower rent properties.

Congrats on the outstanding credit score too!  

Outstanding service and very affordable.www.augustrei.com

With a note and deed of trust or mortgage, the Trustee is the one who can release the lien, it's spelled out in the security agreement or deed of trust; the trustee shall release the lien upon full and final payment of all amounts outstanding thereby secured.

I had a couple who had great references and outstanding credit.