Long story short, I'm in $20K in repairs on this property in a 3 yr. period.

The county or city sells off this lien because the need the money TODAY to keep funding county or city operational services for the well being of the public.There is usually a redemption period where the full amount and any penalties must be paid ( no partial amounts accepted ).

Having an idea of how many VIABLE candidates you can drum up in a short period of time will give you a sense of whether you should consider raising rents for the whole building and/or how quickly you could raise rents.

Wow...I'm sorry but why would anyone want books that were published during the 2005 - 2008 time period?

I reviewed it during their option period and told them ARV was $215K and it wouldn't sell quickly because it's a retirement community.

My plan was to buy it as a primary (live in one and rent the other for a period of time).

If the tenant has a sharp attorney, (doubtful) there could be an issue if you were not compliant for a period where you are seeking damages, seems that would be up to the judge.Best to call the city finance department and ask them, I doubt they would misguide you for some fee.

The seller would be getting monthly cash flow from a vacant house/land, and then be cashed out at the end of the option period on the lease purchase...or with a balloon payment on a contract for deed.

As demonstrated by a universal acceptance of a 3-5 'grace period'.

The season in the Mid-Atlantic is 12 weeks period.