Help Needed: Sub-to or wrap?

[Stinson Bland]

Hello all,

I am in need of some advice regarding purchasing a property subject-to an existing mortgage. I have a buyer that is very motivated but she wants more than I can offer if I have to take a HML to do the rehab project. I've spoken to her several times about sub-to and she likes the idea of making interest.

Here's the deal:
ARV: $160K
Existing Mortgage: $60K
Existing Monthly PITI: $1,500.00
Purchase Price: $85,000
Purposed Sub-To Loan: $85,000 - 0 Down - 8.5% Interest
Monthly Sub-To Payment: $1743.90
Estimated Repairs: $24,800.00

My goal is to make monthly payments while I rehab the house and payoff the $85K once the house sells. I'm estimating that it will take me 1 month to do the rehab and the DOM are 85 to sell. So I think it will take a total of 4 to 5 months to fix and flip.

Here are my questions:

On paper does this look like a good sub-to deal to you?

Can you point me towards some information that covers structuring sub-to deal/contract.

Thanks guys!