My wife (who's from CR) and I are early in the process. 

Would like to get the process going. 

There is a flaw in the business model and thier internal processes need a lot of work.First the good,Yes, I got paid every month.Nomad found me good renters.Next the badDue to needing to make the guaranteed rent they rented my unit below market valueIn communicating with Nomad they were disorganized, often sending conflicting messages and not alignedNomad offered to find me a repair company, that compnany charged $400 for a $25 dollar part and I was stuck with Nomad saying "not their problem" and the vendor saying Nomad was the client not me.Nomad was horrible to my renters as their property management term ended.

I won't just write them all here but I highly recommend contacting a qualified 1031 intermediary to walk you through the process.

It's tough to work with corporate seller's.However, there is a TON of investable inventory in the Atlanta market right now that is institutionally owned where there process is very ridged.

He has repeated the process in which you mentioned with success.

For your first rental property, starting in an area you're familiar with can make the learning process easier, as you’ll better understand the market and can handle issues directly.

The "due on sale" clause (DoSC) obligates the seller to notify the lender if the property is sold.Failing to do so would place the seller in violation of this agreement, giving the lender the right to accelerate the loan.But no laws are being broken here.So, subto is neither legal nor illegal.Second, it only works because most lenders are more interested in receiving payments than in invoking the DoSC clause and foreclosing on the property.But, it can work, provided seller and buyer are both on board and the proper process is followed.

Hi Treza,Not sure where you are in the process there, but when your ready to exercise financing options please reach out, it's very difficult to find a ground up program for inexperienced borrowers without having an experienced GC sign on the loan with you which in turn is not easy to find. 

I need to do some research on what credit score I need to actually begin this process