Isn't the fraternity supposed to be the leaseholder if they are going to register a private property as a Fraternity or Sorority?

Although I suppose if their rentals are rock solid and totally perform you can take that risk..

I suppose one could say “everybody knows” that during certain real estate markets the asking price is just the starting price…Haha… so maybe I answered my own question!

-House hacks aren't supposed to 'cash flow.' 

Suppose, for example, the tenant delays in reporting the leaking roof - then you've got mold, damaged ceilings, etc.  

I suppose you can do delayed financing as well if you want to close all cash to make it a quicker transaction. 

.: @Michael Tompkins get a HELOC I suppose a HELOC makes more sense than doing a cash out refinance since I would keep my current interest rate and wouldn't have to pay closing costs.

So here's the thing Andrew, IF everything works out right, IF everyone does exactly as there supposed to and IF everything goes a-ok in the market and IF the mortgage lender is lazy or lenient, then YES, Sub-To can be a really "good thing". 

I suppose if your numbers aren't working, you certainly have to look for alternatives.

Oh, "he" was supposed to do this or "she" was supposed to do that.