Subject to investing in MA

[Richard Cole]

We have a potential seller finance deal on an off market duplex in MA. 

The seller has an existing mortgage of about $250k. The ARV is $225k, but the property still needs $35-50k in work.

Current mortgage is $1300, separately metered, with potential GMR of $3000-4000/m. Potential cash flow $1-2k/m

Curious as to different perspectives on creative financing options. Would you go subject to, lease option, or otherwise?

Will taking this subject to trigger due on sale? If this is 100% legal to do in MA, how would you structure the contracts to best protect both parties? How would the deed be held? Would it cost an ongoing fee to have a 3rd party attorney pay the mortgage? Is that even necessary? 

How does this all fit into Dodd Frank regulations? 

These questions would probably be best answered by the king of creative financing @Chris Prefontaine 

Looking forward to your input BP community. Thank you all as always for your insights!