There is a property boarded up and padlock for at least two years near my neigborhood. I am interested in the property for a residence so I have done some prelimnary research about the disposition of said property. The owner of the property is approximately 88 years old and is living in a not for profit residence. The property mortgage was satisfied in 1995. There are three violation associated to properties due sanitation and most specifically to this site a TAX LIEN of approximately $50,000. The properties in this area are selling at a minimum of $400,000. I cannot see why this property has not been snatch by an experience investor. What is it that I am not seeing or what should I do to gain control of property. Also noted the tax lien certificate is at a major bank. Would the bank deal with me or should I try only to deal with the owner and his residence home which I assume may have his legal interest on some level. My ultimate hope is to get into this property at as little financial cost as possible because the property will need extensive work.

Thanks,
Ande