Hey everyone,I’m currently holding a duplex in Madison, WI that I’d like to move via Subject-To, and I’m looking for some advice from those of you who have done similar deals.Here’s the quick overview of the situation:3 bed / 1 bath lower | 2 bed / 1 bath upper~2,277 sq ft | Built in 1946I am currently ending the leases on both units so I can move it easierLoan: 30-year FHA @ 5.75% with about 352 months remainingCurrent balance around $389KMonthly PITI + MI is roughly $2,936Total expenses around $3,500/monthRents bring in $3,600/monthIt’s cash-flowing slightly and sitting in a stable rental area on Madison’s north side.Would love any suggestions on ways to go about this

We had a couple living there who had convinced the previous owner that they purchased the property through some fake subject to nonsense, but then never made any payments.

I may be able to sell the property to cover the 1st lien holder (owner financed) but not the 2nd lien holder (private lender). 

Like Jason mentioned, chipped paint, a missing cabinet drawer, or any other minor issue results in a "Subject-To" appraisal, meaning that the identified items must be repaired before the appraisal can be accepted by the lender.

Anything 5+ is commercial 4 and under is residential.  5+ requires much more in terms of borrower conditions inlcuding down payment, Higher Fico scores, Land lord experience, some lenders requiure you to not only own a primary home but also 1 or more invetment properties for 12 months (used for landlord eperience, pay history, collateral, etc.They may also require PITI reserves 12-24 months or 6 months per property in addition to the subject property. 

The fact that syndications tend to be for newly acquired real estate, often with a “plan” (as Mike Tyson said “everyone has a plan - until they’re punched in the face”) to “turn around”, “improve”, or “add value” to the subject property.  

All the information I’ve seen about “subject to” is the benefits to the buyer.  

.• $60k purchase• $35k rehab• $95k total rehab loan payoff• 15% deposit = $14,250 "down payment"• $126k ARV (confirmed via refinance appraisal, borrower expected this to be higher)• 80% rate/term refinance ($100,800 loan) @ 6.75% [700-719 FICO]• Applied $4k of deposit to payoff for an updated payoff amount of $91k• Cover closing costs with 80% r/t refi + $2k back to borrower at closing (still considered a r/t refi if under $2k) + remaining $10,250 deposit reimbursed after payoff = $12,250 total back to borrower• $4k of his deposit + closing costs for rehab loan = his "cash" in the deal• $1,250 market rents• Total PITI = $765.62• DSCR = 1.6327 I do not see the hold costs.  

Creative financing gets you the farthest, the fastest, like this,Using Creative Financing To Buy "Off Market" with "Subject To" and "Wraps" Pushing subject to and wraps and creative financing on a complete and utter novice, Ken?

For example, has anyone here done a subject-to, wraparound mortgage, or seller-financing hybrid in a similar situation?