A friend is looking to purchase a vacant lot for around 10k however it has over 150k worth of liens City of NMB code enforcement (the liens   were placed on a bulk of lots since the previous owner never kept up the lots).From what we read in the title report the actual liens pertaining to the property is only around 6k however the "bulk" lien placed on all vacant lots is around 150k.Anyone ever deal with this before?

@Mike CumbieI learn so much I didn't know from an agent's perspective every time I read one of your posts.

However, I also have read about wholesaling and went to a seminar on it.

After reading through some of the dialogue, it is inspiring to here the basis of the machine you have running for this business.

I said this, because I think I read in some place that when you are new or is your first property it is very hard to get a mortgage on an LLC, so it is easier to buy the property under my name, and after that make the transfer to an LLC. 

The most important things an owner/rehabbed can do to protect themselves are:Hire legit contractorsPay attention to any notices you receive from subs/suppliers.Require lien releases from subs and suppliers who have filed notices, with each progress payment, and talk to them direct.File your Notice Of Commencement as required.....if you don’t do this you extend the time periods specified in the lien laws process.Do some educational reading, FL Statutes chapter 713

I keep readIng MultI-famIly Is where the money is.

Read this:  https://www.fool.com/investing/general/2015/10/02/...Under certain circumstances, you can roll-over your 401k to a self-directed IRA and buy a rental property from your IRA.1.

If my plan was to hold onto this short term (let's just say 2-3 years out of thin air), it makes no sense to pay the point up front and I would opt for the higher percentage rate per month.I know I've heard/read that some people would argue that it rarely ever makes sense to pay the point up front, but if its a long term play, I don't truly understand why that might be...Any info appreciated!

I've read that in Pennsylvania, one does not need a license to manage one's own property but not sure if this is true or no.