Subject To Deal - Need Guidance

[James Smith]

Hello,

My friend wants to sell me his house subject to. I understand that I will make the payments on his mortgage. I also have experience buying houses and taking the deed to the county office to record the transaction.

What I don't know:

1. How do I make the mortgage payments? Do I logon to his servicer's website and put in my bank info?

2. Do I need a new insurance policy in my name?

3. When the 1098 is generated in his name, how do I report this to the IRS?

4. I've heard Pace Morby on Graham Stephan's podcast say that he sometimes will hold the physical deed and not record the transaction with the county. Should I record the transaction?

I'd love to speak with someone that has done Subject To transactions before.

Thanks! :)

-James