And insurance is still required.I’m not suggesting this as the go-to strategy, simply trying to better understand.

They really don't have the power or right to place any kind of lien on the property while they simply have it under contract and aren't doing any improvement to the property. 

Not having individual meters is simply unprofessional.

In this case, because you have a relationship with the seller, I would suggest either telling them of your plans to wholesale it OR attempting to find a buyer FIRST before you put the lot under contract.

In a Subject To, it's simply taking over payments.

I would give them more time and make more attempts to contact them.

I am chatting with him on Monday, but attempting to do some due diligence prior to speaking with him.

The biggest issue I observe amongst real estate investors is the inability to articulate the reasons why they should transfer properties or simply own properties from day 1 in an LLC.

Simply letting your mother live in the property rent free would make it personal property. 

I don't think I fully understand using HELOC to pay points and holding costs only.Taz, that was my initial thought as well - even though it would hurt to get rid of a 3.5% interest rate, I could get an equivalently priced home with today's conventional primary residence rates and have about the same monthly payments that I have today, simply because of the HOA fees.