By definition the first couple of deals in any portfolio that are fortunate enough to exit early will generate huge IRR.

They are designed particularly with mother-in-law or next generational living in mind.

Instead of 40 houses cash flowing $200 each or $8000/month, you buy 10 houses and pay them off for a cash flow of $10,000/month with 1/4th the headache.People don't understand the amount of time, energy, and stress involved with managing a lot of doors, especially if they are lower-class properties typically needed to generate cash flow.

@Ken M. if the Morby's subto wrapper cant payoff the underlying 1st position loan when it's accelerated because of the sale, then he/she would have to liquidate the wrap note (by selling the note) to generate the cash to payoff the underlying.

Sometimes, there is also a tenant already in place which means you can start generating rental income from day one.

In recruiting, it's called running a 'full-desk', when you generate your own clients, and then place candidates directly in them. 

With this, along with shifting the utilities to the tenants and reducing the management fee to generate an NOI of around $103k, I'd estimate the value around $1.8M to $2.0M

The answer was no they don't generate the mortgage nope they don't research the deed or title, and nope they don't prepare the closing documents so what part do they do ya I'm not sure why you need them either. 

I see it advertised all the time about how these companies are able to generate leads and allow you to sit in the driver seat while they do all the hard work. 

either payoff debt like you said or invest in other asset class that's perhaps more CF generating than apartment complex such self-storage/industrial or MHP.