@CHaim K.Although I haven't personally lost money on tax liens, some things I learned about them compared to notes over the years, generally speaking:- tax liens are safer lien position (i'll give 'em that)- tax liens are slower to reward than notes, with virtually no cashflow- i found it harder to deploy large amounts of capital with tax liens vs. notes.

Haven't needed to use them in a while but found them reasonable (and I didn't really have anything to compare - I got them from a friend investor)

Check other providers in that market youre buying in and make sure the numbers all compare.  

If $90,000 can get you a turn key property in a better area with better rent compared to a $60,000 property that needs $10,000 in repairs and might be in a less desirable area....maybe it's worth it.Don't ever expect anyone to ever look out for your best interest more than you.

Comping a property is an art - especially in this market - and takes some time.A comp report is just a start to comping a property, you also have to get out there and drive the comps to see how they actually compare to the property. 

Based on research on the Inglewood market and comparable homes, I made an offer that was significantly higher above asking - but apparently they got multiple offers of above $300K (asking was $224k), and my offer was declined.

My understanding is that multi-family real estate with up to and including 4 units is valued the same way Single Family Residences are, using comparable properties in the neighborhood.For multifamily apartments with 5 units or more, use this formula: Income - expenses = Net Operating Income (NOI). 

That's as compared to an active business like a shoe store.  

However from analizing the rent to value ratio of residential properties in my particular market (San Diego), I am finding that the 2% rule would place the asking rent way above what comparable properties are rendlting for in my area.

That's not enough of a penalty to create an incentive for complying, especially compared to the liability to the lender of accidentally providing loan info to someone other than the borrower.