Using Subject-to for House Hacking

[Zach L.]

Hello!

I am new to real estate investing and am currently exploring options for how I can purchase my first investment property. After listening to the Biggerpockets podcast show 70 with Grant Kemp, I have become interested in the idea of acquiring a small MFR in pre-foreclosure, subject to its current financing, which I would then househack; I figure if I am able to take over the payments for a homeowner facing foreclosure, I'd be able to create a win-win situation: the homeowner won't be foreclosed on and I'll have my first investment property at a lower price than most other MFRs in Los Angeles.

I'm wondering if anyone has used this strategy to househack and what has your experience been with the method (bonus points if you did this in the LA area)?

Thanks in advance for any help!