Retal Property Purchased w/Wrap Trust?

[Nancy Allen]

Hello all...Does anyone know the details of a wrap trust? I found an offer for a duplex that was purchased under a wrap trust. The owner has been forced to move out of the vicinity and offers the property for sale by either assuming the $122k balance on the trust and $50k to him or outright purchase for $199k. The property has one tenant and appears to have net monthly cash flow of either $1200 or $890 depending upon how it is purchased.

Does anyone know the details and cautions of a property purchased with a wrap trust? Is this a scam or might it have potential?

Thanks,
Mike & Nancy