I’m thinking about selling it but wanted to hear your perspective, especially since the interest rate is so low at 4.75% & I don’t necessarily like the idea of selling an investment property but know my money could potentially be better elsewhere.

I have an idea of an initial investment and returns I would like to hit, but would love to speak with those of actual experience to see if my numbers are realistic.

Not a bad idea but if the deal goes bad just remember you are taking money from your primary residence. 

I had a similar idea (having one of the mortgage brokers I know underwrite any prospective buyers.

When you invest, it is a good idea to have a 5-10 year hold horizon that you are planning for, not just looking at the immediate situation in an area. 

However, what if you prefer simplicity, limited risk, and are living off of the income? 

In the meantime I would love to have some helpful information or ideas to share with the buyers when we meet and ideally an agreement/contract we could fill out together once new terms are agreed to and then share that with the attorney so he could draft up the formal instrument for recording.If you have experience with this type of scenario, I’d love to hear any recommendations you have or any helpful resources you could point me to for the appropriate paperwork.Under foreclosure laws, you have to send appropriate notices and try to work with the borrower and offer a loan mod before foreclosure anyway. 

The whole idea of Subject To is to do so safely.

There are some great meet ups in your area I'm sure and a lot of people at those meet ups are more than happy to chat and give ideas and answer questions.

Taking in the content sounds like a great starting point, and teaming up with someone experienced in these deals is a fantastic idea.