galvin,As a general rule you are correct.

The point the authors make is that while many people are leaving the marketplace due to the media's drumbeat of "crashing RE markets" and the increase in market supply, savvy investors should be buying as many good deals as they can instead of sitting on the sidelines waiting for the market to finish its correction.

Is this correct?

Seems to be working correctly for now.Let me know if any other problems arise.

Is that correct?

You want to know what the tenant believes they have agreed to and which lease is the correct lease.

Is that correct?

Maybe you are not doing something correct if you find it is still as hard now as it was when you did your first deal.The biggest reason it is easier is something MikeOH talks about.

You are correct, big profits are made from big changes in the market, and certainly SFH's can be part of those big profits if done properly.

So, if the bank doesn't correct the tax deficiency by Monday morning and the property is sold for the back taxes, does the first mortgage that got foreclosed on still exist?