I remember one post here where the would be sub2 player asked "isn't the whole idea of doing a sub2  is because I'm not actually responsible for the loan?"  

Another important thing to remember for this property tthat I just thought about is that this is a Commercial property.

Remember you don't have to own a property to control it.

Remember these older homes have lead based paint so you'll need to learn about what that entails.

I was reading yesterday online that since you can not use pictures on your add to market a property you don't own you can sign a piece of paper (can not remember what it was called) with the seller when you sign a purchase agreement and it will be attached to the POS and this allows rehabbers, investors, estimators to go to the house look at it and get estimates.

I'm assuming you figured in the roof and A/C in the repair costs and that's why your CAPEX is only 5%, because those major things will be brand new. just remember that there is is still furnace, hot water heater and appliances to worry about. by your figure, in 20 yrs you will have $7800 saved up for a new roof then, but in the mean time other things can go depending on their age which will take away from that amount. 

I cannot remember their names but if I remember correctly they are a group of brokers from around the country that have aligned themselves to cover the the entire united states and so if you google their group I am sure they will be able to give you a good starting point. 

I also remember the same story by Jeff Greenberg where one of his intern got a 5% equity of putting a deal together, or some sort.

I can't ever remember a used house I bought that was perfect. 

@Jerryll NoordenThat is pretty awesome.I hope you get this deal to work for you.That kind of money in my area can buy a lot of houses.Good luck & remember*DFTBA*Don't Forget To Be Awesome