The contract with the wholesaler also expires on Monday the 27th, so I have my concerns about this just being a stall tactic to get out of the contract.

Quote from @Brandon Croucier: That’s a killer loan if they are actually offering that.Seems extremely below market value as even primary mortgages are higher than this right now.I would beware of a bait & switch on this. 

Below are a few areas and things to look for if you're exploring investing in an AirBnB on the Oregon Coast.Most notably, the heart of the Oregon Coast in Lincoln City STR permits will be more difficult to come by.

thanks a lot a very detailed information!

At it's basic level:Assumption: Asking the bank to turn the loan over to you and going through the normal underwriting process, credit, income, DTI ratio etc SubTo: Taking over the loan without telling the bank, no underwriting, no credit check, no income verificationBoth have risks, but it's not my intent to be detailed in this post.

Hi Ben, you came to the right place for information! 

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.

More people moving to a city is more potential tenants. 

We have owned a STR in Florida's panhandle, which has done very well for us for 10 years. 

I had still kind of been contemplating further research on this program, but you talked me out of it.