We will either bring on another investor each year to make the yearly payment or we will just forgo the income payments to the partners and make the yearly house payments out of the cash flow if we just want to keep the property with only 7 investors. 

They also want a priority lien on the property.It sounds like you are looking for someone to fund your down payment, I would be looking for an equity partner over debt as nobody likes to lend money in insecure positions, especially when a borrower lacks skin in the game.How much are you planning to come in with yourself?

However you should consider if your loan has a Pre Payment Penalty.

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.

To me, having one mortgage payment for 2 - 4 houses (basically) always seemed interesting and like something that would give me more bang for my buck. 

The only slight red flag was that they only accepted payment via Venmo or wire transfer, but that's how I accepted payment when I was selling lead bundles, so I still thought it was worth a shot.

Payments $492 (interest, tax, insurance) currently owe $51K.

The payment on the refi would be about 40% of renting a place while looking for the next property.Thanks for listening. 

Do you already have your next down payment ready and lender ready? 

If you're a single mom with student loans, a car payment, and living paycheck-to-paycheck, then $20,000 would be devastating and a reserve is critical.