Originally posted by @Charles Holder:@Brandon SpurlockCool stuff. 1k in rent whats the piti?

https://www.trec.texas.gov/apps/license-holder-search/?

Get comfortable reading legal statutes that govern how a tax lien sale takes place and what you as a tax lien holder must do or - not do - with your lien. 

I just registered a URL and a place holder. 

@Chris Seveney under what circumstances would a borrower sue a note holder?

Get some refi estimates from a few banks (check national and local lenders), also get heloc estimate from your mortgage holder.

Most common forms are Straight Line(SL) and Double Declining Balance(DDB) andbuy and hold investors will want SL to reduce your exit game Depreciation Recovery  expenses.short term holders (aka less than 7 years) will want the DDB to maximize yearly profits.There are tables online for both methods, but recommend a good CPA calculate this and give you the amortization table printout for each and every property as you'll need it when each is sold.

The tax lien certificate holder can wait up to 10 years after the auction before filing its lien foreclosure lawsuit.

:On this topic, what are the pros and cons of a preferred shareholder vs common shareholders, I know if a real estate deal underperforms, preferred equity holders bear less risk than those who own common equity but would like to know more in depth details  This is one of those "Read the PPM very carefully" type of things. 

So therefore, in the scenario the NCSECU will be the 2nd lien holder because the Heloc does not cover the full mortgage loan is that correct