Sub to deal

[Mike Rivera]

I have an opportunity for a sub to deal on a home that is appraised at 205k but the mortgage is at 237k. Rents in the area are min 1400 and max 1600. Monthly payment on this home is 1547. I wanted to ask if its smart to take a possible small cash flow hit as well as overpay for a property just to land my first deal? Is this normal for sub to deals? Or is this not the norm and should I be patient and wait for a deal that maybe really is a DEAL. Any responses would be greatly appreciated, thank you