Do different lenders have different requirements to qualify? 

I do not know where to start.I have been talking with mortgage brokers to see about buying a condo in Manhattan.

Talk with a few lenders about using the equity in his current house. 

Buy a primary with a basement suite but wont entirely cover my mortgage. 

Any reason you're considering tax liens over just a performing mortgage note?

Many homeowners locked in mortgage rates at historically low levels, between 2.5% and 3%, providing a golden opportunity for those refinancing or purchasing homes at that time.

Honestly if you are never planning on moving back to the house (or the area), you are not going to cash flow especially after you add in insurance, repairs and maintenance (assuming property taxes are part of your mortgage).You have a friend willing to buy it off market-double check fair market value and sell it to them.

The lady has been paying the mortgage for years (while renting the property to others).

If i purchase this HOA/COA lien i am wondering what are my options when it comes to the mortgage. i know there are 4 options for sure1) Notify the lender of the situation and payoff the mortgage2) Don't do anything, rent it out and let it get foreclosed on3) Flip the property quickly as possible before it gets foreclosed on (the mortgage will get paid off)4) Sell the property as is at a slight discount to recent comps (the mortgage will get paid off)This is the one I'm not so sure about5) Notify the lender of the situation and let me continue making the payments on the mortgage for a long term rental playmy question is, is #5 doable?

. - Lenders are not balance sheet lenders.