Anyone have any experience with foreclosing/redeeming on a tax lien when the original owner is deceased? Thanks, cindy

The cash that's left in a property is dead.  

I know John mentioned the thread was dead- so I'll try not to dredge.

haha I should be dead.

Not sure how important this is in reality.I believe your choice of carrier and "dead zones" will be more important in this.

I don't want to keep preparing until I'm dead, but also don't want to suddenly find myself with an investment property that I don't know how to handle. 

From your experience do you think that can happen immediately or do you think I have to wait to get the Sheriffs dead which won't be until the end of the redemption period? 

There's a part of my that wants to be a little bit cheeky answering your post by saying Chicago is a dead market and there's no one investing in Chicago.

In 2033 seller will be dead, His heirs will get a STEPUP BASIS in the property and avoid capital gains, the seller will get a monthly benefit without the hassle's of operating the community while he is alive.In this option I did NOT pay the 30% down payment , but I could provide a 1st position cash out refi too the seller for $1M - $1.5M I would need to make sure the seller did not encumber the property during my master lease with a mortgage, i would lose any ability to do a cash out refi for 10yrs and I would lose the ability to capitalize expenses, and have depreciation, The seller would need to make sure that I did not operate the community where code liens or tax liens encumbered the property.Has anybody heard of such a deal strategy?

My question to you would be are you dead set on the North Georgia market?