But what I'm struggling to understand is, once I find investors, how do I manage to pay them back, plus interest, in a relatively short time period?

@Andy Gross Also depending what type of property you invest, you could offset a higher than average vacancy rate by offering short term rental periods a la an airbnb business model when you want a higher ROI in the short term.  

It only guarantees the property free on any liens or claims during the time period in which the seller owned it.  

Thank you for contacting me and reaching out to discuss the note.I asked the bank to pull a new title search just to make sure that they haven't gotten a 2nd lien recently.And, yes there is an assignment of rents that has been filed but the banker explained that she is not certain whether or not it is being enforced.Taxes are owed from 2012 through the current tax period totaling $25,031.62Note purchase price is 100-120.Outstanding Loan amount - As of Aug 6th 2015 137,935.198 plus accrued but unpaid interest at the non-default rate of 10,212.43; late fees of 759.52 and other bank fees of 2,494.66 totaling 151,404.81.

You buy said property for pennies on the dollar, property owner either pays back taxes PLUS interest directly to you within a given period OR if that period expires, you own a property for close to nothing.

To achieve a fully conditioned crawlspace is just a tad more complex but is easily doable by anyone who studies- it's basically deleting any ventilation ingress/egress from the crawlspace, adding insulation to the walls, deleting insulation from the joists, installing a vapor barrier on the ground & walls, and installing a tiny air exchanger that will force air periodically from the conditioned main house into the crawl.   

Period. 

You are skimming rent for the period between acquisition and foreclosure.

Hello, I am trying to pickup my first buy & hold (first real estate investment period)...

There is no statutory holding period.