Sub 2 questions, looking for RE lawyer/ Albuquerque, NM

[Michael Simmons]

Hello BP!

Does anyone have contact info on a Real Estate Lawyer who I could help draft a "sub to" agreement?  The property is in Belen, NM (87002) near Albuquerque (87106).

Details - 10 years ago my wife and I bought her Grandmothers home as a rental (emotional decision).  It provides little to know cash flow.  The neighbor wants to purchase the property but cannot secure financing.  We owe ~$117K and it just appraised at $145K.  The buyer is willing to give $10K down and finance the remaining $135K.  I spoke with my bank and they don't have a problem with anything I do as long as they continue getting paid.   

I want to get out from under the property.  We're in the Navy and the tenant doesn't communicate problems.  I'll be happy to move on and start investing properly in a location where we can build a team.

I plan on writing in that the Taxes and Insurance will be directly passed to the buyer.  That way if either goes up I'm not at risk.  Thoughts?

What interest rate should I give the buyer?  I mentioned I'm at 5.125% (bought as a rental) and he thought that was high.  I don't think I can push higher without risk of loosing him.

Who can claim tax benefits on the property as the "owner"?

Any other advice would be appreciated.

Cheers,

Mike