Hi @Steve Veen - when you say value play, does that mean increasing the value of the investment by your actions, like running it more efficiently, raising rents, etc?  

Postcards are the way to go as far as direct mail, just make sure you are putting the correct "call to actions" in the copy. 

It would be up to the lender if they decide to take any action because of that violation, if they even find it to begin with.

I would take these actions to get started:- Research and read forum posts on the subjects you are interested in.

I would consider asking the seller to remove the tank and get a "no further action" certificate from the State Environmental office (that's what it's called here in NC - not sure if it is the same in NJ but pretty certain there is an equivalent.

I'm taking action and creating a marketing plan with my new wholesaling future however I want some feedback about being covered and creating an llc and facing insurance.

Probably the closest I can find is this: http://commercialforeclosureblog.typepad.com/indiana_commercial_forecl/2008/10/indiana-delinquent-sewer-fee-liens.htmlThere is a bill to reverse the ability to put a lien on a house for a tenant's unpaid bills, but it was just introduced this year and I don't see action on it.

However the value of using the GC for the first few repair estimates is really helpful in determining an accurate ARV.Your right about taking action.

Since this is a new and fairly exciting industry to me, I have yet to jump ship.However, since the restaurant industry is so exhausting and time consuming, my attention is gravitating back to the real estate industry as a way to make passive income.

The buyer has to qualify as well.In practice, bank financing is almost non-existent so your best course of action is to negotiate a low sales price for a cash purchase from the buyer and find exit strategies that would suit your needs.