$If title remains in seller's name and they  file bankruptcy (which often happens as they were desperate to sell/underwater/or near insolvent as the reason to do this).

If you want to be that involved, go find one of those hungry discount managers desperate for the work.

The irresponsible utilization of the sub to method of transferring real estate being promoted by a well known guru ( with past legal troubles) to naive, inexperienced, and under capitalized “investors” will  lead to restrictive legislation negatively affecting the ability of responsible investors, desperate homeowners, and home buyers unable to qualify under high interest rates from doing a successful sub to transaction.  

These allrequire applicants to submit an acceptable Letter of Explanation addressing each specific issue and occurrence.Rental HistoryBecause a current landlord may say anything to get rid of a bad tenant out of desperation, we also requireinformation for the previous landlord of all applicants.

If the homeowner is desperate enough to sign away his rights, you get $400.At best, you should be paid an hourly wage, plus expenses.  

One of the illegitimate (unethical)  part of wholesaling is when a desperate seller assumes an individual has the means to purchase their property when in fact that individual has no money or the means to fulfill their end of the contract without relying on a third party that might or might not close.  

@Sam Parr the major impact that we were seeing was a huge drop in new listings, and many properties were being withdrawn from the MLS because sellers didn't want to seem desperate to sell in a time like that.However, this is rapidly changing and we're already seeing a strong return to the previous market as everybody who was waiting to sell or buy is flooding back into the market.

We've done this before although it's only been on what are clearly investment properties (apartments or portfolios of houses).Furthermore, as an agent, unless the seller was desperate to sell and had no other options I would never recommend to them to take a subject to deal.

Looking back, I honestly believed I had more than I deserved.I eventually got into real estate, more out of desperation than anything. 

Instead, they were  desperate to unload the property and accepted my offer.I manage 200 storage units and know the market well enough to understand what the net income should be if properly managed.