Confirm the zoning limitations: Mixed-use zoning can often allow for more flexibility, but you need to get the exact details.

This includes contacting the applicant’s employer and speaking with their supervisor to confirm job stability, income, and reliability​. if the person has not been employed at their place of employment they would require a guarantorCredit Score and Debts: Applicants need a minimum credit score of 620, and while we review debts, medical debts are generally not disqualifying unless they impact overall financial health.Criminal History: We do review criminal history to ensure safety and security for our tenants, while remaining mindful of state and federal guidelines.Rental History: Positive references from past landlords, with no evictions or significant lease violations in the past five years, are essential. and we can see into the court system if they have an eviction judgement.Release of Information: We include a release form allowing us to verify employment and rental history directly, which helps us get a clearer picture of an applicant’s background.This process has worked well so far, but I’m always open to improving.

You might get these days 60% leverage so you'll likely need 40% down payment plus reserves and the financial institutions will want you to keep those capital reserves in their institution.If you are a new investor, there's a couple of opportunities to get started. 

Begin with a small property like a duplex or triplex, build a strong financial foundation, and keep 6-12 months of reserves for emergencies.

Now what you should do is contact the title company and confirm if title was going to be clean and marketable.

@Elizabeth LebI would like to hear what folks would invest 20k in if you already have reserves?

My advice on sub to is as follows1- COMPLETELY understand the process, implications, liabilities, and possible outcomes before engaging or attempting to engage in a sub to transaction2- Complete disclosure going so far as making sure the other part understands the transaction and possible consequences3- Utilization of an attorney experienced in subject to transactions for setup in such a way that provides some protections in case of default or in case the note is called4- Have a backup plan in case the note is called5 - only use for property that has a TRUE positive cash flow unless the buyer has substantial reserves I myself have purchased 8 properties subject to, but 5 of those were commercial properties which often have notes where a subject to is allowable.  

However, make sure you have reserves and know the condition of the property in case you have unexpected or initial expenses. 

@John BerjIf cash flow is a top priority, factor in HOA fees (common with new builds) and confirm rent comps to ensure the numbers work.

The additional cash you have due to leverage put into more hard assets and the cash flow generated put into fixed income/equities after reserves.