See IRS Publication 598 for more details.Good luck with the deal!

Oakland close to public transport is better, but still $3700 rent.

What is the best route to ensure that our money is backed/secured - promissory note and mortgate?

Any thoughts would be appreciated.Thank you,SteveIf there are multiple secured liens on the house, it depends on who is foreclosing. 

My question is should I make my offer and worry about getting financing later or secure pre-approval first?

With market rents, coming up with first/last/security deposit can approach $10k in some neighborhoods, which can be a difficult check to write even for professionals.

I have always been interested in real estate investing, but the security of full time employment & raising my family took priority.

IE high volume they write title insurance  one off hard to get anyone to do it.the only way a CA. state tax sale can be overturned is through court order and the person or entity that lost it has to prove that the public notification was flawed..

The Mortgage (or deed of trust in some states) is the legal instrument which secures the property as collateral for the loan.It is important to think of it in those terms as they have two different purposes.

I've read that you can find leads on local tax assesors websites, probate and inherited properties accessible to the public at probate court offices, or work with an agent who has access to expired listings from MLS.