You would need appraisal and/or inspection to make educated offer, 15K sounds too high with tax lien, the next thing you know there is 1K water bill, or some other problem :), these type of houses I would make low-ball offers.

In the past, I have used my w-2 income for food, fire and water and my real estate flipping income for wealth creation.

Generally banks are going to want to sell a pool of assets and, unlike REO sales, these types of transactions generally don't happen that often. 

Either a refiance, Home Equity loan, or home equity line of credit. the numbers are property 1:  15,000 tax lienas is value 65,000 arv 70,000Property 2 3,000 water tax lienas is value 55,000after repair value 95,000what are the pros and cons of the types of financing?

My partner and I are looking to dip our toes in the REI pool and realize the promise of financial independence.Our plan will most likely include creating an LLC to provide protection (tax, liability, brand), starting with flips to build capital, diversify into buy and hold/BRRRR to build wealth, and finally retire in about a year to live life ;)We've been lurking on BP, reading @j_scott and @brandon_turner, and listening to the podcast.

I don't know much about them.The home is in relatively good shape but there is some definite deferred maintenance needed like a kitchen/bathroom remodel, removing the wall paper from 1978, floors/carpets, swimming pool refurbishing, etc.

@Evan Salvador The market is crazy for SFRs as there is a huge buyer pool and inventory is tight.

Most 4 - units are shared water and that can run up your numbers.

Hello Casey Nordendale I agree with Curtis Waters Hobby millionaire is a good action oriented group.

Another gotcha is if you the landlord pay utility bills for the tenant included in the rents.You could have no water leaks and the utility company decides to go up 10% on the per gallon usage rates for water and sewer now that they think the economy is doing better.