Or incompetent.Or, as is often the case, relocated and someone living in the subject property but not paying the taxes (or rent) while fat, dumb and happy.Your most valuable skill will be skip tracing; finding people who have a record ownership interest. 

A tax lien gives you no ownership in a property only a lien against the property.

-Vacancy 10%:                                       -2880Effective Rent:                                     $25920-Management Fee: 10%                       -2592-Property Taxes                                -2500-Insurance                                         -1600Annual NOI                                     $18,940Cap 10Purchase Price                           $189,400I'm planning to allow the owner to maintain ownership of the homes and collect rent and pay me the lot rent of $200.

I think most people would want some sort of ownership in the company for loaning that amount of money (think Shark Tank on ABC).  

They say it will net 100k/year and that the 40k investment I might make would be repaid before any profits are taking by ownership.

IE you own the property between you and the right of way then deed off and dont retain an easement and then sell it off and no longer have common ownership..

If a "borderline" seemingly sketchy tenant is willing to leave the property when you take ownership, and you think you can get a higher rent.

@Michael Perreira You will likely need two entities not because the properties are in different states but because your ownership structure is different. 

Take ownership of your mistake and learn to do the proper due diligence recommended above😊Please send us any feedback via email, as we do not use the DM feature here.

Do I take ownership of getting the police report filed?