Most of the captives that are still writing ACV policies don't write particularly good ones.  

If so, the seller is probably looking for his payday, and be willing to wait for the right buyer, particularly if its running smoothly. 

While I haven't ever seen this particular situation come up before,I don't think that an unused tank is, by itself, an issue.

(Occasionally, particularly in rural areas or with high-end properties, you might have to go farther back. 

If you want to buy from banks, expect to be required to buy pools of notes.If you're trying to buying a soecific note on a particular property, about the only opportunity that I've seen is from private party note holders.  

Oh, and I'm never mailing that particular postcard again! 

Add to the banking situation the fact that some states, particularly judicial foreclosure states, make it very difficult to execute a foreclosure, and you have a perfect storm for foreclosures taking forever. 

But it should NOT be commonplace.Look for 2.5-3x rent. no evictions. no felonies. decent history of paying their bills. no owed money to utility companies.If the tenant pool you are getting for your particular rental is not attracting tenants that meet those standards then you need to improve the property or lower the rent, or both.That will open the tenant pool up wider and allow you your "pick of the litter"

This particular property was trashed by the previous tenants as the owner was out of state and left it unchecked for 3 years.

I think its best as Rick & Karen suggested to seek professional advice for my particular concerns.