Also in a sub2, is it common to stipulate in the contract a certain time that the property will be sold/refinanced etc to get her name off of it?

The only stipulation on it in the state of oklahoma is that we live in the property for atleast 12 months which we have done.

Do you know anything about the Stipulations of buying a destressed property in our area using FHA?

Just means that he is a partner in the deal and you split the proceeds accordingly.If I can't qualify to buy a prop on my own I bring in a money partner that can qualify and have an outside agreement that stipulates who gets what when you sell the property or who gets what % of the cash flow if you keep as a rental.Often you can form an LLC with your partner and spell it all out in your operating agreement.Remember everything is negotiable but if he's bringing the cash he'll want a pretty big chunk of the profits.

However, things like legal description etc have to be searched special stipulations have to be entered price needs to be checked and a lot of follow up needs to happen in the background.Investor POV: Property gets under contract..all is good.

Or is there a stipulation within the subject to provision of the contract that will designate payment the 2nd and 3rd mortgages to the seller?

That said, the stipulations may not be as desirable. 

Most gap lenders we work with are expensive (is a very risky investment) and have stipulations which most new investors find counter intuitive because the goal is to decrease the cash to close. 

Also, some developers have a stipulation in the contract that you must live in the house for 12 months before you can resell it.

In certain Zip Codes the majority of houses under a certain price range will more than likely be sold to investors.If an online (national)master list was available with all of the lowest price properties in your area, but had the following stipulations, how likely would you be to purchase one?