Advice on buying a house "Subject To"

[Ryan Roundtree]

I'm about to start on my first deal through buying a property "subject to". I have a strong understanding of the practice. I'm just wondering if anyone with actual experience buying properties subject to had any advice before I started out.

Such as, should the "Subject To" contract be specific for each state or are they basically universal?

Are there any major flaws or benefits to this strategy that many people don't know about?