Make sure to provide clear disclosures to the seller about the risks involved, especially regarding the existing mortgage staying in their name.Insurance Considerations – You’ll need to work with an insurance agent who understands sub-to deals, as the lender might require a policy that keeps the seller as the named insured.Due-On-Sale Clause – While banks rarely call loans due, it’s still a possibility.

I've asked this seller for any documentation he had and he's yet to provide anything.

Just given the information that you provided, I would say buying a house where you can rent out rooms or a separate apartment is a great way to start.

You’ll need to submit an application to the Community Development Department, undergo inspections, and comply with tenant notification and eviction rules, including providing a 90-day purchase option and relocation assistance.

When you bank with a smaller regional or local player, you run the risk that the 3rd party aggregator won't see the value in maintaining a bespoke connection protocol that likely provides very little data compared to the big national banks.

And the guests are able to stay in a better property than a typical hotel room can provide. 

More than happy to provide some clarity.

And given my charges he stands to make about 60% of the of the net profit and I will make the remainder for providing 100% financing for him.. so 100k to 120k for him with maybe 10k out of his pocket. this is just one of about 20 I fund for him per year young guy making bank with a capital partner like me..

There is a whole subculture of scamming investors in Memphis so take the time to vet your providers. 

Happy to provide some of the correspondence they sent related to the program if it's of any use.