However, if a bona fide offer is received from a third-party prospective buyer, then OWNER shall again notify HOLDER in writing and offer the Property to HOLDER at the price and upon the same or better terms as named by the prospective buyer.

Run your own credit/background checks on the existing tenants as well as prospective tenants - refer to the BP tenant screening guide I referred you to in a previous post.

There aren't many people alive who remember what happened in the Depression but one of the things that made it so depressing is that the economy was caught in a cycle of deflation where prospects were uncertain so people stopped spending which reduced sales which caused people to be laid off which lead to more uncertainty and less spending; rinse and repeat with prices falling each round.

I assume that these liens will become the responsibility of a prospective high bidder due to their government/tax nature?

We felt that that tenant deters other people from renting the other units.

Understanding that mentality from the get go, will give you a great prospective on how to approach these short sale deals.

In fact, I don't remember the subject of TK investments ever even coming up in the hundreds of conversations I've had with new prospects.

The numbers look ok, but what are the long term prospects for appreciation, both in rent and price ?

@Angela Turnbull the vast majority of Bigger Pockets members are from the USA, but don't let that deter you from the website.

As used in this chapter: (A) "Real estate broker" includes any person, partnership, association, limited liability company, limited liability partnership, or corporation, foreign or domestic, who for another, whether pursuant to a power of attorney or otherwise, and who for a fee, commission, or other valuable consideration, or with the intention, or in the expectation, or upon the promise of receiving or collecting a fee, commission, or other valuable consideration does any of the following: (1) Sells, exchanges, purchases, rents, or leases, or negotiates the sale, exchange, purchase, rental, or leasing of any real estate; (2) Offers, attempts, or agrees to negotiate the sale, exchange, purchase, rental, or leasing of any real estate; (3) Lists, or offers, attempts, or agrees to list, or auctions, or offers, attempts, or agrees to auction, any real estate; (4) Buys or offers to buy, sells or offers to sell, or otherwise deals in options on real estate; (5) Operates, manages, or rents, or offers or attempts to operate, manage, or rent, other than as custodian, caretaker, or janitor, any building or portions of buildings to the public as tenants; (6) Advertises or holds self out as engaged in the business of selling, exchanging, purchasing, renting, or leasing real estate; (7) Directs or assists in the procuring of prospects or the negotiation of any transaction, other than mortgage financing, which does or is calculated to result in the sale, exchange, leasing, or renting of any real estate; (8) Is engaged in the business of charging an advance fee or contracting for collection of a fee in connection with any contract whereby the broker undertakes primarily to promote the sale, exchange, purchase, rental, or leasing of real estate through its listing in a publication issued primarily for such purpose, or for referral of information concerning such real estate to brokers, or both, except that this division does not apply to a publisher of listings or compilations of sales of real estate by their owners; (9) Collects rental information for purposes of referring prospective tenants to rental units or locations of such units and charges the prospective tenants a fee.