A former partner of mine was one of the primary authors of HOLD, and what she suggests in the books is what she does.  

Another book out there called the "unofficial guide to real estate investing" ... not sure of the exact title or authors, but I've read it, and it's pretty good too.

@William Hochstedler Hi, Yes, right know there is no monthly spread, basically I just need to close the deal and get the $10 000, so, between the seller and me what I need is just a purchase contract that authorizes me to get a tenant for the house, and between the tenant and me an assigment contract that basically says I´m helping him get a house with those conditions.

I was thinking of a few options (aside for fighting the tax authority to lower them back on the grounds of low rent): 1.

First find out the zoning with the relevant planning authority ie city council.If it's industrial zoning you should talk to the town planners and see their thoughts on what they call a "spot zoning" change.

(Expenses, income , demand analysis, supply analysis, etc. ) if you want to buy an apartment building you need to read abcs  of real estate... this book will change your whOle outlook on how to perform these types of business investments and give you a ton of confidence because the author lays it out in a very readable way...Good luck 

I am curious if there is a difference between an Authorization letter and a Change in Terms of Lease Addendum.  

My short-term goals (12-24 months): eliminate credit card debt, finish renovating my first home (which I currently live in with my wife), increase writing income to ~60% of my total income.My medium-term goals (3-8 years): write the novel that's been marinating, begin developing an investment portfolio, purchase an investment property, end my stint as someone else's employee, visit Alaska's national parks.My long-term goals (6-35 years): make a modest living as a writer/author, own ~6 multifamily properties, purchase a second home for vacationing (?)

Also (not a lawyer btw) the owner may have recourse to buy it out of auction, in that case you could approach them directly and get it under contract, and have them authorize you to talk to the bank and see if there is time to make a cash settlement.

(although, I have not heard of a lender calling a note due, the risk is always there)- The home owner will need to sign an Authorization to Release Information form.