Sub too.. now the seller does not have title.. the middle man trying to make the delta has no way to cure.. and the low downpayment new buyer defaults and is squatting since its not a credit issue for them and it takes a year or more to unravel..so caution..

If you're looking to build repeat buyers that you can wholesale deals to making 3-10k depending on the price-point you're at, the delta of the property, and demand for the property I think it's a win/win.  

personally I think this really depends on how deep your pockets are.I just cringe thinking of investors who don't have very deep pockets and experience jumping into owner occ Non performing notes.These things can go many ways.. and many ways they can go very wrong.The only way to buy them is as Rich states at a price that your virtually certain that when it goes to the courthouse steps someone will bid it .. and you make the delta and they inherit the owner and deal with getting them out.Now In our states on the West coast this is really not too much of a big deal POST sale.

Given that Eviction Moratorium is extended to Oct 2021 and probably will continue to be extending due to the Delta variant spreading, curious if this is a good time for REI newbies to purchase a rental property.

Just run the above formula on the delta between home rent and lot rent and you will see what I mean.  

Do you have a delta in monthly revenue between the two?

Aside from all that, the main idea in the refinance part of the equation is to do your own cash-out refi to restructure the debt in a more economical vehicle, pull out some equity from the delta you've created between the purchase price and the ARV once your rehab is completed. 

If a -1% value bond rises in value, and the yield goes to -2%, the bond has doubled in price.as for the lending practice, its all about the delta in what you borrow and lend out at.

One of the popular frameless or semi-frameless numbers that Delta and Kohler put out can get pretty tricky.And that's the main reason I brought up the questionable plumbing decisions.

Although there are time when this varies the delta between interest rates and cap rates remains consistent.