In the state of Florida, if you are not the owner and you are managing a property for a third party you must have a Real Estate License.

I came across this Ted Talk by Rory Sutherland that explains how advertising creates perceived value as opposed to actual value for a product.http://www.ted.com/talks/rory_sutherland_life_less...Understanding the power of perceived value is crucial for parties on both sides of an advertised deal.

Most residential leases have a clause which converts them to month-to-month if neither party notifies the other in writing that they do not wish to continue the lease.

The strategy has been gaining popularity thanks to the numerous benefits of rent to own for each party in the transaction.

The other risky part is that I need somethign very specific and might have to pay premium dollar for it.

When another party in the negotiation tells you they ignored ALL of your comments, it gets a little frustrating considering it is not cheap to do contract review with your legal counsel on documents close to 50 pages. 

My high level thoughts on the rental market in New Bedford (where the property is I'm reviewing) would be that most tenants are probably more suited to a monthly agreement, as you say - better for the flexibility for both parties.

I'm going through the county records and I keep seeing tax liens held by a third party (LLCs, individuals, etc.).  

So in your example, if ABC forecloses (judicial or non-judicial) on a deed of trust (or mortgage) recorded on 1/1/1999, the bidder (and subsequently the purchaser) at the foreclosure auction would not be financially responsible for the second and third liens (by mortgage or deed of trust.) 

~I can't come up with the third because it would be a tie between many small $$ things.