Eli,If I were you I would look into Subject Two, Land Contracts on Properties that are free and clear and Raising Private Money!

If he doesn't qualify, advise her that she has to 'cure' the illegal occupancy immediately or be subject to eviction. 

I do not have to do anything right now, I just need to learn, wait for the right opportunities, or create them - for example by trying to use subject to and take over someone else's payments who locked in a lower interest rate from a few years ago. 

A lot of subjective/anecdotal criteria here.

This now places their use back subject to your approval, so their own claim via AP/EP statute is reduced. 

Most are very much on the market and subject to bidding. 

So assuming your subject property is in an area where the income capitalization rate is 7.5%.  

However, I saw enough that I believe that the information available is so imperfect and subject to interpretation that large losses would be an inevitable part of the program, as well as large gains.  

Look into seller financing or subject to properties in the area that you want to purchase. 

If you're subject to the Alternative Minimum Tax (AMT), these deductions may be limited.