Always know what lien you’re bidding on.A property lien is “a legal claim on a tract of real estate granting the holder a specified amount of money upon the sale of the property.

That said, the devil on my shoulder wants me to find out just how low these lien holders are willing to negotiate.

@Julia Deck-Russell In addition to the good advice given by @Tan Mehedi, be prepared for a very long, drawn out process and for subordinate lien holders to pop their heads up at the last minute looking for more cash.The last one I did for a client was within 5 weeks of closing. 

Or just an escrow holder to put the funds through?

Disneyland is packed with season pass holders, and some parents were even using it for after school care because they knew their kids would be relatively safe with all of the security and adults.

Values rounded.Value of each house $182,000Rent $2900Expenses $1450Annual cash flow from one house: $17,400Since all the houses are paid off at this point, the holder of one house has equity of $182,000 and annual cash flow of $17,400.

The only way a property goes back to lien holder is two ways: either at public auction where lien holder is high bidder OR borrower signs deed in lieu of foreclosure. 

So let's say the monthly HOA is $300 and your $9500 balance consists of $3500.00 of attorneys fees, so that it's 20 months of HOA dues.If either the first or second mortgage holder forecloses, you'll receive $300 x 6 = $1800 + $3500 = $5300.  

Registration of Foreign Associations – General Rule and ExclusionsGeneral Rule – A foreign filing association or foreign limited liability partnership may not do business in this Commonwealth until it registers with the Department of State.Exclusions – Activities of a foreign filing association or foreign limited liability partnership that do not constitute doing business in this Commonwealth include the following: (1) Maintaining, defending, mediating, arbitrating or settling an action or proceeding. (2) Carrying on any activity concerning its internal affairs, including holding meetings of its interest holders or governors. (3) Maintaining accounts in financial institutions. (4) Maintaining offices or agencies for the transfer, exchange and registration of securities of the association or maintaining trustees or depositories with respect to the securities. (5) Selling through independent contractors. (6) Soliciting or obtaining orders by any means if the orders require acceptance outside of this Commonwealth before the orders become contracts. (7) Creating or acquiring indebtedness, mortgages or security interests in property. (8) Securing or collecting debts or enforcing mortgages or security interests in property securing the debts and holding, protecting or maintaining property so acquired. (9) Conducting an isolated transaction that is not in the course of similar transactions. (10) Owning, without more, property. (11) Doing business in interstate or foreign commerce.Being an interest holder or governor of a foreign association that does business in this Commonwealth does not by itself constitute doing business in this Commonwealth.In general terms, any conduct more regular, systematic, or extensive than that described above constitutes doing business and requires the foreign association to register to do business.

However, none of the properties that have a first lien holder on the property have more than a 50% LTV But the rates on all the properties that have loans are between 2%-5.5% so I would rather not refinance any of the properties as those rates are something that I would not secure again as they are with local banks/credit unions.