Looking For Suggestions On How to Structure Owner Financed Purchase with Equity for Cash Flow

[Ted Chan]

I'm interested in getting ideas/clarification for the best way to buy and hold properties with some equity, with motivated sellers. Some might be have lis pendens or notice of default.

The goal is to get a property under contract and keep the existing financing if possible, I don't want to come up with a big down payment and get financing, control it, and rent it out for cash flow.

I'd be putting money in to catch them up, and pay any fees.

From the research that I've done so far my options are:

• purchasing subject to existing mortgage
• wrap mortgage
• land trust
• trust deed (i'm not sure if this is different than a land trust)
• lease option

Any suggestions or clarifications would be helpful along with Pros/Cons of each method.

Thanks for your input ahead of time.