I wanted to see if anyone had had any experience with rentals in lower income neighborhoods.

Some lower end neighborhoods will be discovered and shoot up in value.

My understanding is that if you acquire the deed to a property through a tax sale that you are required to inform any and all heirs/owners of the property in writing (and possibly receive some sort of receipt of such), and if you miss one heir or owner then they can come back years later and claim ownership of the property.Can someone shed some light on this type of transaction, specifically what are the risks involved in such a transaction? 

It could kill the transaction, yes.

There after make at least 12 transactions my first year with my mentor and save up to buy a duplex or a small multi unit.

They always offer 0% interest rate for 12 to 18 months, but I need to pay 3% transaction fee, for 12 to 18 months, which is still good rate.

Lower total cost of transportation, but more in-your-face.When folks see that, I suspect that living locally will be at a premium, more in demand than ever.

For my smaller places I buy a 4-roll pack of acceptable lower quality t.p. for each toilet. 

I've had many transactions where I received pro rated rent and security deposits from the seller.

The insatiable hunger for mortgage-backed securities created a need for lower and lower qualified borrowers, which ran up prices.