My first few have to be successful so that I can get my wife on board.Any advise or contact in the area would be great.

Just be advised that the terms will be expensive so I hate to see you have to pay monthly just to keep a property afloat.

I have located several vacant homes i would like to target any recommendations for the wording of the letters would be appreciated due to my lack of experience i will rely on the experts here to advise. thanks in advance Keith 

Any last advise about the Hollywood market?

I would advise looking at where you have some boots-on-the-ground and use that to narrow your focus.

We are obviously in touch with legal professionals as well as other professionals to resolve both issues but just wanted to get an outside opinion as well since we were advised that there is no clear answer to the previous owners liability.

This is very helpful.I have read  The ABC's of Real Estate Investing by Ken McElroy and he does advise that you request the current rent rolls and 12 months financials.I will check out the webinars and 2 other books.Thank you. 

I may be too frugal here, but any advise is welcomed.

Thanks everyone for the encouragement and advise..

My advise is find someone in your local market (real estate clubs) that are doing sub-to and ask questions.