Hey everyone, I wanted to get some feedback on a strategy to leverage a septic violation lien to acquire a property.

I am currently negotiating with an Asset Manager on a REO property that has an ongoing septic violation and a $240k (estimated) lien that has been accumulating at $50/day since 2005. The bank is trying to sell as is for $310k cash only and pass the lien and septic issue off to the buyer.

My plan would be to offer $50k in cash to purchase the property and assume responsibility for both the septic issue and the lien. After repairing the septic violation (estimated $20K), I would go through the reduction hearing process to have the lien reduced as much as possible. I have seen other members post that they have had reductions of 15-90% once the issue has been resolved. After six months I would get a mortgage for up to $310k to cover my purchase price, septic repair, and the final lien amount.  

If this strategy worked, the worst case scenario is that the lien is not reduced and my total cost for the property is $310K. Best case scenario is that the lien is reduced by 90% or more and my total cost is $94k.

Is there anything obvious that I am missing on this strategy?