Hey BP, I have been reading through some of the forums and I see some mixed opinions on this subject, Here's the question: If you don't have enough money for a down payment and your credit isn't the best and you deiced to bring in a partner 50/50 partner who has the money for a down payment giving you guys skin in the game. 

I should find out if it's paid off and perhaps do seller financing or subject to.

Hey BP, I have been reading through some of the forums and I see some mixed opinions on this subject, Here's the question: If you are trying to get a loan from a Hard Money Lender and you don't have enough money for a down payment and your credit isn't the best and you deiced to bring in a partner 50/50 partner who has the money for a down payment giving you guys skin in the game.

I then look for 1 story if that is my subject property, similar square footage, garage (1 or 2) and the above info.  

If neither of these options work can I make an offer on the new property subject to sale of the relinquished property?

Hi @Daniel Burdi,BP has a book on the subject that isn't bad.If you want nitty gritty mortgage guideline things, however, such a book wouldn't be useful, as guidelines change monthly. 

@Andrew JohnsonI agree - I am a big fan of tax diversity as part of retirement planning.My question, though, is essentially this:Say I have a client that has $300,000 that is 100% invested in securities (no real estate) and I have determined the best asset allocation for the client is 60% stocks, 40% bonds.Then s/he inherits a $200,000 residential property and decides to keep it as a rental unit.

Can you buy property subject to the existing loan and lease it out with an option to buy in Texas?

Mortgage amount is an important factor if looking for a subject to transaction or for other reference / negotiating reasons. 

Pick up a book or two on the subject of land-lording (you can find great books here on BP) and maybe speak to a lawyer.