Real estate" is not one business or one type of investment, it is a number of related businesses or investmentsResidential, multi family, office building, warehouse, mixed use, retail, recreational, raw land, tech centersLarge, medium, small, microUrban, suburban, small town, rural, exurbsbDifferent states, different metropolitan areas, different cities, different neighborhoods, different blocks, different demographicsDifferent property age, different architectural style, different fixed expenses, different financing, different tenant mix, different tenant demandSingle net lease, double net lease, triple net lease, CAM, building allowances, rent holidays, lease length, buyout provisions, personal guarantees, lease renewal, cost of living increases, flat percentage increases, Different loan amortizations, fixed interest rate, variable interest rate, balloon payments, fully amortized, institutional loan, private loan, seller carry backBuy and hold, fix and flip, syndicate, partner, joint venture, self manage, professional manager, management company, leasing company, in-house leasing, real estate agent, licensing requirementsFederal laws, Federal regulations, state laws, municipal laws, rent control, eminent domain, set back requirements, utility easements, property taxes, special tax assessments, development districts, water districts, utility bondsPassive investing, active investing, portfolio income, business income, retirement funds, ERISA regulationsAsbestos, Clean Air Act, Environmental Super Fund, pollution control, water runoff, Flood plain, floodway, Flood control, Flood insurance, endangered species, wet lands Zoning, Planning Board, building permits, occupancy permit, community board hearings, noise ordinancesEviction laws, foreclosure laws, bankruptcy laws, civil liability, fair housing, tenant rights, disclosure laws, loan modification laws. 

@Leo Poon The HUD is the final amount on the loan from the closing disclosure.

Does anyone know if disclosures are required to potential tenants about subsidized housing?

Full disclosure: we develop rehab / project management software as well, so obviously I'd think ours is the best :)REsimpli - rehab oriented software in free beta right now integrated with Home Depot to create contracts and other useful tools as well.Asana – “Ive used asana in the past and it works out pretty well.

There may've been disclosures in your purchase documents stating something about that.

The seller is in the wrong for such a non-disclosure. 

Disclosure: These numbers are averages only, they are based on at least 100 unit properties.

Another thing you should think about is disclosures.

@Michael Henry I just want to know what else I have to do apart from giving the tenant a pamphlet & disclosure. 

and make full disclosures)Owners in tax sales are under lots of pressure, it is almost "Do or Die" for many of them, that is why we as investors have to be sensitive to what's happening in their real estate and financial life.