I'd want to fully understand the condo regime, the health and governance of the association, my risk and responsibilities.

Overall, my goal is to have a good return on my money by keeping a house that I have made some instant equity in from the rehab, but I don't want to see my cash flow drop from $300 a month to negative $300 a month just due to a big corporation like Lloyd's, the Federal government, or global warming.

The government is providing such easy financing for college to anyone.

im not sure how much money you make each year. but there are a few government programs that might help get you a seriously reduced condo/coop or even a single family or multifamily way below market rates. i would look into that

Real Estate Investing Abbreviations *REI Abbreviations* *AFD* - Agreement For Deed *AITD* - All Inclusive Trust Deed *APR* - Annual Percentage Rate *ARM* - Adjustable Rate Mortgage *ARV* - After-Repaired Value *BOM* - Back On Market *BOR* - Board of Realtors *CAD* - County Appraisal District *Cap* - Capitalization *CCIM* - Certified Commercial Investment Member *CCR* - Conditions, Covenants, and Restrictions *CFD* - Contract for Deed *CLTV* - Combined Loan To Value *CMA* - Comparative Market Analysis *COCR* - Cash on Cash Return *COF* - Cost of Funds *COO* - Certificate of Occupancy *CRB* - Certified Residential Broker *CRE* - Creative Real Estate *CRS* - Certified Residential Specialist *DBA* - Doing Business As *DCR* - Debt Coverage Ratio *DOS* - Due On Sale Clause *DOT* - Deed of Trust *DSCR* - Debt Service Coverage Ratio *FCRA* - Fair Credit Reporting Act *FFE* - Furniture, Fixture, and Equipment *FHA* - Federal Housing Administration *FHLMC* - Federal Home Loan Mortgage Corporation, Freddie Mac *FMR* - Fair Market Rent *FMV* - Fair Market Value *FNMA* - Federal National Mortage Association, Fannie Mae *FRBO* - For Rent by Owner *FSBO* - For Sale by Owner *GMAC* - General Motors Acceptance Corporation *GRM* - Gross Rent Multiplier *HELOC* - Home Equity Line of Credit *HML* - Hard Money Lender *HOA* - Homeowners Association *HUD* - Housing and Urban Development *HVAC* - Heating, Ventilation and Air Conditioning *IRA* - Individual Retirement Account *IRC* - Internal Revenue Code *IRR* - Internal Rate of Return *IRS* - Internal Revenue Service *L/O* - Lease Option *L/P* - Lease Purchase *L/S* - Landlord Seller *LIBOR* - London Interbank Offering Rate *LLC* - Limited Liability Company *LOC* - Line of Credit *LOI* - Letter of Intent *LP* - Limited Partnership *LPOA* - Limited Power of Attorney *LTV* - Loan to Value *MAI* - Member Appraisal Institute *MAO* - Maximum Allowable Offer *MIP* - Mortgage Insurance Premium *MLS* - Multiple Listing Service *MUD* - Municipal Utility District *NAR* - National Association of Realtors *NIV* - No Income Verification *NNN* - Triple Net Lease *NOD* - Notice of Default *NOI* - Net Operating Income *NOO* - Non-Owner Occupant *O/F* - Owner Finance *OO* - Owner Occupant *P&S* - Purchase and Sale *PITI* - Principal Interest Taxes Insurance *PMI* - Private Mortgage Insurance *POA* - Power of Attorney *PUD* - Planned Unit Development *REI* - Real Estate Investing / Real Estate Investor *REIA* - Real Estate Investors Association *REIT* - Real Estate Investment Trust *REO* - Real Estate Owned *ROI* - Return On Investment *RTO* - Rent to Own *SFH* - Single Family House *SFR* - Single Family Residence *Sub2* - Buying property subject to existing financing *T/B* - Tenant Buyer *TAA* - Texas Apartment Association *TAR* - Texas Association of Realtors *TIL* - Truth In Lending *TREC* - Texas Real Estate Commission *UBIT* - Unrelated Business Income Tax *UCC* - Uniform Commercial Code *VA* - Department of Veterans Affairs / Veterans Administration Brian, I think that's the first time I've been referred to as "uninformed" or the others you mentioned.Off the top of my head, at 3:41 am, (fell asleep early) you left off:ALTA, American Land Title AssociationMFD, muli-family dwellingMH, Mobile HomeORE, Other Real Estate (same as REO)PHA, Public Housing AuthorityP&Z, Planning and ZoningSEC, Securities & Exchange CommissionSFD, single family dwellingSPOA, Special Power of Attorney, required for real estate transactionsSRO, Single Room OccupancyUBP, unpaid balanceI'll stop, there are other professional designations, associations, government agencies, financial ratios and insurance abbreviations.Just a comment on Sub-2, you keep saying for low equity, don't need newbies thinking that as a restriction, you can buy Sub-2 with a ton of equity as a wrap, inclusive of existing financing or as a separate equity carried back, in fact, to get back on topic, the OP can sell Sub-2.As to DF, this condo is owner occupied, they are exempt from DF, they can simply have an attorney draft a note or contract, they could finance the option as well if exempt in their state.Seller financing may be an alternative as well, all or just part of the sale price/equity. :)

DC continues to attract strong supply of college students, graduate students, young professionals, military personnel, government workers and international investors, all of whom are looking for housing (to either rent or buy).

Don't ask me why, it's the government...and wouldn't you know I never argue with that one!

@Harvey Miller are you saying this friend will reveal confidential government data to you to use in your business?

And I'm reading about the powers of government and escheat being one of them.

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