There is sufficient equity at the numbers you shared to do so.When the owner of record (with the tax lien) sells the property, the tax lien will be satisfied from the proceeds of the sale from escrow, prior to the seller receiving any of the sale proceeds.

Always remember to do the math analysis on prospective properties and try to look at them or at least before you make an offer or at least have a clause in the sales contract that allows you the inspection time (about 15 days) that is detailed and allows you to possibly back out of the deal without a penalty that will hurt you too much.

However, those holding a professional license should call it as it is; a "Sale Associate" or a Real Estate Licensee.

If the agent calls me (they are usually slow to follow up) I will make a reasonable offer subject to inspection and a study period.Everything is negotiable - CONTROL IS KING - learn how to control real estate - it is a short cut to cash flow -  it is the best way I know of assigning properties.Who controls real estate - An agent with a listing agreement (treat them well - they are in control for a period of time)An accepted option agreementA buyer with an accepted contract of sale with contingencieshttp://www.realtor.com/realestateandhomes-detail/M...Charles

I think last time he tried it, he got burned...though maybe he'd be more open to the idea if he knew I only need financing for a small portion of the purchase price. 

I sell a house that has underlying mortgage still on a land contract, which put me at risk for a due on sale trigger (understand the risks of note being called from many prior posts).2.  

You can usually draw a loan from a portion of it though at much better terms (not sure how this works if unempl)  Find another job for now and build your property rentals on the side.  

Always remember to do the math analysis and try to look at the prospective property before you make an offer or at least have a clause in the sales contract that allows you some time (usually 15 days) and to allow you to back out without a penalty that will not hurt you too much.I also went to college, not that it is mandatory, and I got a business degree that had a real estate emphasis.  

It has been listed for a couple of months now and not selling and here is what I know:It was purchased in 4 or 5 months ago as a short sale for 150kThe owner put mayyybe 15K into fixing a few things like electric, the porch, etc.

It is within 60 days.From my FHA loan:"Borrower shall occupy, establish, and use the Property as Borrower's principal residence within sixty days after the execution of this Security Instrument (or within sixty days of a later sale or transfer of the Property) and shall continue to occupy..."