if so does the county or city take care of all applicable liens including that from the IRS with the excess fund or does the new owner have to initiate the process ?

I purposely showed it a lot and didn't charge an application fee as I wanted the practice of honing my people side. 

Social Security/Pension Awards Letter (if applicable) W2s and 1099s - Last 2 Years Personal Tax Returns - Last 2 Years Business Tax Returns - Last 2 Years with the K-1’s (if applicable) Bank Statements – Most recent 2 Months for all checking/savings/stock accounts (all pages) Bank Statements – Most recent Quarterly statement for all retirement accounts (all pages) For all properties owned (if applicable): Need most recent Mortgage Statement Need property tax bill (if property is located outside of the Bay Area) Need Homeowner's Insurance declaration page – showing annual premium Need documentation to show the HOA dues (if applicable) Need current lease(s) (if acquired within the last 2 years) Driver's License – a pic with your smartphone works great Divorce Decree (if applicable) Previous employment history covering the 2 most recent years Company/Position/Start Date/End Date Previous residence history covering the 2 most recent years Address/Start Date/End Date/Rent Amount

Here's a reality about real estate to consider in this market (most likely applicable to your local market but trying not to generalize all markets): you are buying an expensive asset that historically appreciates very well over time as a long term investment for very minimal down.

I've done a lot of reading on different strategies, and am trying to understand which is the most applicable.

We have had good communication since the tour in trying to work out the details of the application process.None of them meet the income requirements, and although they all have part time jobs, they are not making 3 times their portion of the monthly rent.

GuysI have two tenants applications, not sure what to choose, the credit score is bad, lower than 600 however they some good points:The house is 5 bedrooms and 2 bathroom, two living room and two dining room. $1200 month and $1200 depositTenant 1: 4 adults and three kids = 7 personsThe 4 adults works, lower income for each, some of them with cash only.

But, they should also put - "you will be piecing together a lot of information over hours, some of the information wont help since it wont be applicable to your location, strategy, and/or your unique situation, and sometimes when you have the most questions - there may or may not be an answer that has already been answered on BP in the nick of time.

With an Assumption you have to make formal application to the lender who then runs your credit, checks your income, etc just like applying for a normal mortgage loan.

Fast Track Application, a $999 commitment fee, and request a draw for construction and repair funds.