I know mortgage lien will be extinguished but not sure the other types.

Let them know you're the new owner, that you will be abiding by the lease terms they currently have, give them your info to be able to make payments, any website/payment portal platform.I would keep it short and sweet.

With the 8 multifamily units, there is 1 single family house on the lot as well that I am buying with the deal.

Or just start out collecting a fee or hire a third party to manage.As for a buyout down the road, you could put an agreement in place from day one that specifies a set time period that you will buy out the partner.

This property has double the price value in 2 years.

It's all about timing and the ability to finance the property.

The right person can easily make over $100k in real estate sales.

The property hit's the 1%. 

Hi, is anyone wholesaling in LA or the surrounding areas?

These two numbers diverge over time as the SEV increases with property value, but the Taxable Value is capped.