It could be a city lien due to delinquent trash/water bills, or it could be a third on the house heading to foreclose on the house.

Who pays the water, heat, hot water, cooking gas, trash, common area maintenance, etc? 

Personally I wouldnt recommend coastal areas if you are into long term hold - wouldnt want to take a chance with rising water levels.

I don't think messing with the name is a great idea and may actually land you in some hot water.  

Settlement may be caused by undersized pier bases, water ingress into the crawlspace, expansive soil, etc.

Here are some tips on how to cut costs and keep your property above water!

I need to replace the kitchen flooring in a condo due to a water leak.  

There are markets that are seeing massive growth, which therefore you could call "a better market", however at the end of the day the grass is greenest where you water it.I'd recommend building those broker relationships 1-by-1 or invest passively with an experienced sponsor team to get access to other markets outside of your area.  

What if it had burned down or been flooded the night before you closed?  

Which looks like a water damage.