First time Subto

[Casey Ferry]

Hello! I am a first time investor that has been studying and saving for the last 2.5 years to go into real estate investing. I feel fairly comfortable with the concepts but have never actually done a deal so wanted to clarify a few things. 

1. With subto which is the current deal I am looking into how do I get the paperwork? Do I hire a real estate attorney? I am weary to just use the downloaded copies from YouTubers like pace morby

2. Getting a power of attorney to be able to deed property back to owner and then use an executory contract to purchase the home? Is this an easy thing to do and a safe way to do it?

3. Failure to perform clause recommended to re-assure sellers?

4. I would like to keep this deal for me personally but is it worth it to hire a "consultant" or can I get the same from an attorney as far as paperwork goes. 

5. Any other concerns I am missing? 

This particular deal is a divorce situation where the father co-signed so they are very motivated to get it done. I would prefer not to assume the loan but it could be an option. Just looking for ALL answers/opinions on the topic. Thank you!

[Steve Vaughan]

Quote from @Casey Ferry:

5. Any other concerns I am missing? 

This particular deal is a divorce situation where the father co-signed so they are very motivated to get it done. I would prefer not to assume the loan but it could be an option. 

Other concerns? Yeah.  Burdening a divorced couple + a dad's credit together on a loan indefinitely by an undercapitalized unsophisticated 'investor'.   That's a concern.

All my sub2s have been clean ownership by a sole owner or happy couple that is current.  Not in default.  Not divorcing. Not with a co-signor.    

This is a disaster waiting to happen.   Assume it to release these people or don't do it.