I just did not want to violate any kind of law.

I have roughly 5 years of formal work experience with different aspects of default real estate, although most of it is with paralegal style work, as I was at a default-based law firm and now am working at a bank in different servicing aspects of foreclosure (residential).Investing in default properties has always interested me, so I may begin there, but I'm here at BP to learn as much as possible to make my first deal a successful one.

The tax sale would wipe out any lease (I presume - depends on state law).

the 2% rule.... it is not 2% rule of law, it is 2% rule of thumb.

It will be local laws and regulations.

Bob never has the knowledge that agent z was an owner in the LLC and b/c of agent z's advice to take the offer bob took under market value for his property) A scenario like this is totally against license law.

@Kevin Lopes I'm not Atlanta (I'm in PA), but my understanding of PA law is that if there is an existing lease and I purchase the building, I have to honor the lease.

Just be careful about fair housing laws, as this strategy gets tricky if you ever deny renters to try and hold out for a buyer.

From www.personalliberty.com:Obama’s ‘Promise Zones’ Picked For Their Strategic Value To Democratic PartyJanuary 9, 2014 by Ben BullardPresident Barack Obama designated five areas Thursday as Economic Promise Zones: three in cities, one in rural Kentucky and one on the Choctaw Nation in Oklahoma – and nearly all of them offer Democrats stronger political inroads with resistant local voters.Obama described the ‘Zones as places where kids would, with the Federal government’s help, have the same opportunities to realize the American Dream as kids in more affluent parts of the country.

Lease-options are tricky in TX due to the laws of executory contracts that are longer than 180 days.