We are interested in a strategy of buying a good starter home in a great school district, then lease it, hopefully to a good long term tenant and hold the investment for steady generation of income and some appreciation.

ONE OF THE KEYS TO LEASE OPTION ASSIGNMENTS IS GET A HOUSE THAT EVERY BODY WANTS...4 B 2 B good school district, low crime.

They essentially find deals, present them to you and then if needed, connect you with a hard money lender.

Potential examples of keywords alerts :~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~cheese head, cheese nation, Pabst, Milwaukee, Wisconsin,Madison, homepath, homesteps, hud, Waukesha, buy-hold,turn-key, creating llc, multi-family, contractors, property management, cashflow, etc The following podcasts would definitely be essential for your current needs: #12, #11 , #8, #4, and #1www.biggerpockets.com/renewsblog/2013/04/09/how-to-buy-a-small-multifamily-property/www.biggerpockets.com/renewsblog/2012/12/12/make-a-million-dollars/Howdy again, Matt

Hi Bill probate is closed now but the family hasn't made any mortgage payments ,nor property tax which brings me to worry there's over 200K in back taxes owed on the property since 2008 i live in the District of Columbia I believe the owner has up to 3 years to pay off the tax lien or the lien holder can start the foreclosure process due to non-payment.

It's just a solid if unexciting middle class neighborhood in one of the better school districts around.We are not trying to get top dollar, we don't have a big mortgage and there's not risk of foreclosure.

I keep it to reinvest into another property or now I'm looking at notes so it may start going to that soon.Here is the reasoning, if I pay down my principal at 3.5% that $100 is essentially giving me a return(saved interest) of 3.5%.

Being patient and following through with your plan is an essential step in successful investing outside of your area.

@Mike McDermottWould that be a NYC-specific ordeal (I'm not familiar with the case, but any chance they took it to a higher level like state or district courts for a confirmation?).

Essentially, I would be taking all the monthly payment risk, vacancy, turnover, and deposit/damage responsibility from him, in exchange for a deal on rents to compensate me for that risk.