I am new at purchasing tax deeds and just want some advice from experienced buyers. I am interesting in purchasing a negotiated property in Arkansas. WHat exactly can I do with the property? Can I rent it out or sell it right away, or do I have to wait?

Also, with a tax deed, what can I do with a tax deed?

The tax deed is how you buy it. Since the county is selling it to you.

I do not know ark law exactly, a good real estate attorney would be worth a 100 bucks to sit down and ask some questions to.

But in places like Alabama where I bought a lot of properties, I had to hold them for 3 years to give the prior owner the right to redeem the property.
They would have to pay me the money I paid plus 10 percent interest
And pay for any improvements you make. You can at least in that state run down the owner and have them sign that right away, so you can act on the property.

In many states you own the property free and clear the day of the sale.

And you may sell the property after that anyway you feel OK with it.
The safest way is to use a quick claim deed, which has not promise to it at all. ( even a tax deed has more guarantee than it does) Or if you do a very complete title search and get title insurance, you can even do it on a warranty deed if you want to take the risk. The type of deed you sell something under merely shows what level of risk or legal liability you wish to take in the sale of the property.

With any property no matter what type of deed you get it under, there is always a risk that back 30 years ago, some ex wife did not sign her interst in the house back and it is never caught until her children want to know what happened to mommas house. So any deed can have errors no matter how good the title search.

So that is your first job after the deed is yours, a goo dtitle search to see if there are any ghosts in the attic that may have an interest in the hosue