I plan to buy them extremely low...It wont make me a millionair but I know the rents and I figured I can bring in a decent positive income if I buy them low enough.

MEJ I am in somewhat of the position you are.

. ($350)One is on social security and is disabled – other pays rent cashiers check ($275)Unit mix 2 x 2 bd/ 1 bth Here are the numbers:Price $26,000 (they will only accept cash) I can come up with about 10k in cash but would have to take a personal loan to cover the restGross Rent: $7,500 (100% occupancy consistently)Expenses –A) $1975 (owners claims with property mgt included)OR –B) $3000 (if I assume a 40% of rents =expenses) NOI:$5,525 (if use A expenses)OR$4.500 (if use B expenses)Even if I was to 100% LTV at a $26K price at approx 7.5% Annual Debt Service would be: $2340So Annual positive Cash Flow would be: $3185 (if expenses A – owner claims) (or $265 a month)OR $2160 (if expenses B – using 40% of gross rents) (or $180 a month)Repairs known (before property inspection) needs new exterior and interior paint (additional $1,500), Roof is approximately 10 years old The money seems small but consistentDuplex Located in Buffalo, New York There have been a lot of foreclosures in that area – some I can tell were investorsOn the plus side, these tenants don’t seem like they are going any where soon.

Period.Anyone else entering the mix is in a back-up offer position.

If your entire contract was verbal, then you may be only in a position to negotiate a deal outside court.

- Is there a lot of positive press regarding the brand?

Can the moderator please delete Dwayne Buckners post, it's all positive here on my thread except him.

A properly purchased rental property should pay for itself right away with positive cash flow used for unforseen expenses.

So, if you're making $100/month in positive cash flow, your taxable loss will be $392.

You will notice that even your reply you answered you own question to the mortgage liens.Quote [ Pursuant to Section 3712 of the Revenue and Taxation Code, the tax deed conveys title to the purchaser free of all encumbrances of any kind existing before the sale, except: ] end quotefree of all encumbrances of any kind before the sale, except: What follows, the exceptions, do not list a mortgage lien as an exception so they are cancelled as part of the sale.Basically what is not cancelled is any lien from any governmental taxing authority.As far as the IRS redeeming a property, this would only be done when their lein is considered in a junior position to the other liens.