"Subject To" financing

[Albert Yamoah]

So Big Phill and Shenoah Grove are coming through Dallas, TX this evening. I went to their last guru session (which was veiled in the cloak of a REIA meeting). Not only was the session full of misinformation, but when asked about aspects of the business model they were promoting, they (Shenoah specifically) were very defensive. If any of you know of the couple, then you know they are all about "Subject To" financing. My questions are these:

1.) Is anyone in the Dallas/Fort Worth Metroplex actively using "Subject To" financing to aquire real estate?

2.) Are you using "Subject To" financing for flips, holds OR both?

3.) What contingencies are put in place for WHEN (yes, when) notes are called (specialized attorneys; legal documents; contact with banks; etc.)?

I realize the relative benefit of owning the title for a property but not having its debt on your credit report. I also realize the absolute risk of having the note called (no matter how small; I know someone out there will swear by this strategy and say that the note is only called 0.000001% of the time). Thanks in advance for your kind responses and advice; I greatly appreciate them all.