Trying to lie or get creative with your explanation for what you're going to do with it would be dishonest and short-sighted (you'll end up with a bad name for yourself and no other realtors will want to deal with you). 

If the lien(s) amounts are too high, at that time if I back out, I assume I lose my earnest money and also $2500 deposit with Homesearch.com?

Neither are my fault, but nonetheless - you are correct.Luckily for me, the property is worth more than 60k so I'm not terribly concerned about losing money on the investment at this time...

I have a few properties in my sights.  

I didn't lose any tenants and it makes a BIG difference getting the additional revenue. 

Keep in mind Debt service needs to be filled in meaning based off my calculations they lose money every year. 

If those expire, the property will lose some value as entitlement work has to start over and entire project could change as a result of CIty and Costal Commission.Bob Faulis

You certainly stumbled onto the right sight.

I always lose at gambling.Frank

Even if you end up in court and lose, the loss will typically be covered by insurance.