Can I place a lis pendens on a property that..

I would strongly recommend that you talk to an attorney before doing this.  One place that you can look for the lawyer you need, to give you reliable advice, is our website, http://attorneypages.com

A lis pendens ordinarily is proper only when you are asserting a claim that affects the title to the land;  it is a "cloud on the title," which in simple language means that while the lis pendens is in place, it is usually impossible to sell the property, and any sale that does take place is subject to the claim.  If you use a lis pendens improperly, you can be sued -- for example, if your lis pendens kills a deal, and as a result the owner can only sell the property for (say) $50,000 less than they would have gotten otherwise, you could be liable for that difference.