This is a financial exercise for a hypothetical example:A) a STR purchased for $300k with 25% down at a fixed 6.8% rate, with 25 yr amortization schedule  B).

If Amy bought in person, at the county, she will need to contact the county during a window that is 30 days to 5 days before the 2026 auction and tell them she wants to buy the 2025 lien coming up for sale in the 2026 auction.Amy decides not to exercise her right of first refusal, or misses the deadline, or something.Mark’s 2025 lien goes through the 2026 auction and Sally buys it at 10% interest on a $1,000 tax lien.On that date, if Mark redeemed from Amy’s 2024 lien, he would owe Amy $1,000 plus one year of interest at 6%, or $1,060.That $1,060 will be added to the $1,000 Sally owes for buying the 2025 lien.

It was good exercise for both of us and moved the needle forward.

Even though the tenant has an option to purchase, you still hold title and carry the risk until that option is exercised.

That's way too much exercising for me.I dunno, seems a bit risky to hold paper claiming to be a partial interest in a company and not understand what I'm doing. 

Still a great exercise though — honestly this is exactly how I think about deals even when the answer is no.

This isn’t a rushed upgrade or a box-checking exercise.

It should strive to become and remain proficient in its field and be competent to properly address issues which arise in connection with the ownership or collection of debts.CANON 3 – CONFIDENTIALITYAn RMAI Member shall always demonstrate their commitment to maintaining the confidentiality of consumer account data which shall be revealed through the development, implementation, monitoring, and annual review of security measures adopted for its protection, not only while having title to the receivable but also during transmission of the data occurring during the sale or purchase of the receivable.Commentary:A Member shall strive to implement the highest standards of information security policies, safety, and security plans and guidelines which meet or exceed any state or federal statutory and regulatory requirements for the safeguarding consumer personally identifiable information and account data.A Member shall abide by all non-disclosure and confidentiality agreements with the parties with whom it has business dealings regarding the other parties’ consumer accounts, proprietary business information, and trade secrets.The obligation to protect confidences does not preclude a Member from revealing information when consent is provided; as permitted in statute, regulation, or case law for the collection of a debt; or when required by law.It is not improper for a Member to give, as allowed by law, limited information from its files to an outside agency necessary for statistical, bookkeeping, accounting, data processing, banking, printing, or other legitimate purposes, provided it exercises due care in the selection of the agency and warns the agency that the information must be kept confidential along with the execution of proper confidentiality agreements.CANON 4 – COMMUNICATIONSAn RMAI Member shall demonstrate caution in its verbal and written communications with others which shall be revealed through the absence of false, fraudulent, misleading, deceptive, or unfair statements.Commentary:A Member shall accurately represent professional memberships, designations, credentials, capabilities, and experiences.The name under which a Member conducts its business should not mislead others concerning the identity, responsibility, and status of the Member, even if such name is permissible under the FDCPA or other state and federal statute.A Member shall not directly or indirectly compensate or give anything of value to representatives of the press, radio, television, or other communication medium in anticipation of, or in return for professional publicity in a news item unless such payment is disclosed in such news item.

Single-family tends to teach fundamentals like tenant management, financing, and cash flow discipline, while commercial forces you to think more about income, expenses, and structure.Since you already own a single-family home, even running numbers on it as a rental (realistic rent, expenses, taxes, reserves) can be a great learning exercise before jumping into the next deal.

Fortunately I have never had to exercise plan b.