He thinks because the invester we are working with has a trust it is simply to keep himself safe from being sued for shady practices.

In todays real estate market it is not safe to assume that the property is worth what it sold for in the past as values have dropped all over.

I've been thinking about this a lot more and managed to come up with a safe plan that I think is very sustainable

Public housing is stigmatized in the United States, but in other countries (like Singapore) public housing is mixed-income, safe and high quality.

@Dana Sarcona if you’re still looking areas like Secaucus (besides the North End flood zone areas) Rutherford, Lyndhurst and Carlstadt all have good schools, safe neighborhoods with easily accessible public trans to NYC.

@Dametrius ClarkI give lowincome/ poor people a cheap safe place to call their own .. that in itself is an asset to the community

If you get a vetted, high quality tenant that is likely to be a safe bet to make money, would you reduce rent in order to close the deal? 

Safe-ish area with solid houses around.

Visualization is my secret weapon.

Can I then safely assume that there are no more encumbrances on the property if nothing but the first mortgage is showing?