Current comps rent for $2450+ and the mortgage + HOA is $2180. 

I've been reading more about subject to and here's what I've learned:-Good for sellers who are off market-Have low to no equity-Have a mortgage with a low interest rate (less than 5%)-Be absentee or out of state (vacant property, or have a tenant)The buyer would then take over the mortgage payments, and have the seller sign the deed over to the buyer.

though; (1) there are tenants in the house on a two year lease (payments are enough to cover mortgage payments), and (2) the Seller wants the option to buy back the property in two years.

Quote from @Chris Seveney: Quote from @Mort McGuire: Good morning to all,Does anyone invest in mortgage notes?

I'm trying to get a mortgage, but it's entirely possible that the mortgage might not cover 100% of the price of the house.

I am orginally from Elgin, but living down in Logan Square area of Chicago proper!

Where you would put in the mortgage the seller is financing.

Numbers don't work in Huntsville or Madison proper right now. 

You would be 100% leveraged, and you'd have 2 separate loans (One HELOC and traditional mortgage).

The quick short answer in my opinion is this: If you want growth stick to the small multis that you know and once the mortgages are paid off retire fully.