Trying to get creative with this...Suggestions?

[Jim Adams]

I've had a seller blowing up my phone for the past few days. He has 3 properties that he wants to get rid of. He is renting out 2 of them. 1 is vacant but rent ready. He has an existing mortgage on all 3 properties. He said he's willing to sell for what he owes. My cash offer won't cover the mortgage balances. 

His mortgage payments are low and there is a good spread from what the tenants are paying monthly. It will cash flow very well. I want to hold on to them.

He wants to clean up his credit and said he is ok with us taking over the payments if we can get them out of his name. 

At first thought- I was thinking we could assume the loan. But from what I've read depending upon what kind of loan he has in place- I would have to move in. 

Now I'm researching "subject too" options

There is also a matter of the Due on Sale Clause--wanting to avoid this at all cost if possible.

Someone also mentioned forming a Trust to get it out of his name....but not quite sure how that would work.

Any and all suggestions are greatly appreciated.