It's all verbal, but it's also paid for by the eventual fixes if we buy the place.  

@Luis Rondon  Some Important things the lenders will be considering are your credit score, debt-to-income ratio, and eventually how comfortable they feel with doing business with you (based on your goals/professionalism/knowledge, and the deals you're doing).

I want to do that with real estate eventually, that's my long term goal.

My husband called the lawyer at that point (I had him do it because he knows the mortgage industry much better than I do, and it turned out he and the lawyer had some colleagues in common.)Dealing with the lawyer was a little frustrating, because he was obviously pretty unfamiliar with sub2s and kept dramatically warning the seller about the potential pitfalls (the mortgage remains in his name, etc.)Eventually, we worked it out by putting these two clauses in the contract. 1) If we miss one payment, the seller can take the house back. 2) We will refinance into our names within three years.After the paperwork was finished, we mailed a check for $1,200 to the lawyer and he sent us the paperwork.After that, we did more waiting for the seller to be ready.I emailed the seller at the end of April reminding him the paperwork would expire at the end of the month and we'd need to have the docs updated if we didn't sign them before then.He said he needed another few weeks to get ready.

Eventually, you will want the obligation to be fulfilled, so the rubber will meet the road.

Unless you have the money to pay, you will eventually lose the house.I feel like this experience will be of tremendous help when talking to homeowners face-to-face.

The investors are pulling less and less margin and many are holding back.I am not here to discourage you but only to emphasize that consistent marketing/farming will eventually get you deals.

The ones that do raise the price have no idea what they're doing and they eventually phase out anyway.I originally took offense to it but told myself there's worse things that can happen in life. 

Hartford, Avon, Canton, Bloomfield, etc.) or by the shore in the New Haven area.Once I do get back to the states, I think I'll probably get a full-time meh-paying job in the nonprofit sector, perhaps working with an NGO or a community-based organization, and eventually get back to school for my Master's in international development, but I really have been looking for some sort of investment opportunity that I can get behind to complement (justify, really) a mediocre salary for a career path that will put me in the sort of jobs that will make me happy with life (but still leave me with bills).

But I will keep trying because I know it will eventually work.