Your competition will probably use better or worse assumptions. 

In your 'assumptions' and projections, Would you rather...1.

.- They often get sold Class C or D properties while using Class A assumptions - then wonder why they are losing money.Here's some copy & paste info that you hopefully find helpful:-----------------------------------------------------------------------------------------Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

It isn't doing "SubTo's" that is illegal, it's how they are done and how they are treated and what your assumptions are and what your unpredictable seller does.Attorneys love these kinds of fights.

Esprit: I guess the first assumption is - you still have the asset under the entity right? 

This can be especially helpful if you’re uncertain about repair assumptions or costs.If it’s a contractor you’ve worked with multiple times, involving them early in the process is often beneficial.

Again, OP, if we're operating on the assumption that everything is about rationality and logic, then there is no explanation for what we are observing.

You may want to share you analysis with a few banks and/or property managers as they will typically weigh in on your assumptions if they are potentially interested in working with you. 

My assumption is that these trailers never had a title. 

The current lender refuses to do a loan assumption.