Your tenant sounds shady, change the lock before some fantom key holder robs the apartment and you get sued. those people who tell you that there is good in everyone, havent met everyone yet

If you have to foreclose you would need the cash to pay off the first mortgage assuming the first mortgage holder bids which is a 99.9% certainty.

This probably isn't what you are thinking of, but I think the best target for subject to properties is VA loan holders.

@Trevor EwenWe have a number of active investment LLCs and we always pay out 90-95% of free cash flow every quarter to each holder.

Hey guys I am working with a gentleman right now on his property and he wants to partially carry some of the balance on the property. The issue however is that his lawyer is very adamantly against him taking a 2nd. So...

You may need to take out a first mortgage to protect your second, if you lose the collateral to a first lien holder, you're out of collateral.

Glad you find this site @Jerusha Holder you are in the right place to learn all about REI!

Eric, you say "You also aren't supposed to market the property, in any way, shape, or form whatsoever, unless you are a licensed RE agent." according to the attorney one needs to be a broker to market property for another => ohio revised code about brokering . so i can market the property just not on behalf of anyone else(namely the person that sold me the property). well i don't do that. i decide to send an email out with a flyer, show the property, etc. the deed holder didn't ask me to do that. i'm not representing them.  

Also that you, as second mortgage holder have the right to check on the payment status of the first. 12.

If there is a junior lien you can purchase it and then you have the right to buy out the note holder as well.