subject to

[Lori Vines]

Hi BPer's 

My first question/post here. I'm a Realtor so not new to Real Estate but new to the creative options. (and excited about them!) I'm considering approaching one of my clients with the option of buying their house subject to because I don't have 20% down (and I want to get my feet wet on this) and just offering them some $$ upfront (they need some of their equity) and taking over payments and leasing it out... then I can continue to pay them an agreed upon amount towards that additional equity. Will I be able to refinance to get it in my name and if so, how long is title seasoning or is there, since it's subject to? And if so, can I, since I will have all that equity in the home, cash out some of it to pay them off on the refi?? Also, since it's in an HOA, how does that work on something like this? I already have a rental in the neighborhood so I know the transfer fees etc... but how to handle me taking over that too on a subject to?

Any advice or other creative thinking?- I'm open