They would not want to make payments to you because then they would need to trust that you would in turn pay that to the lender.Most seller's considering a subject-to deal are distressed and headed to foreclosure themselves.

I would be doing this will a local partner, we would buy the distressed property in cash and get a hard loan for the renovations.

Scale up by purchasing distressed buildings, remodeling, renting, and refinancing.

(and I have full time job so time is limited)Here’s a breakdown of my investment plan–I would greatly appreciate any guidance and recommendations on making this (or some version of this) happen.PropertyLocationAttributesB-level areas (A-D scale)Safe enough for my girlfriend to feel generally safe walking alone in the eveningWalkable neighborhood / close to transit (car ownership not necessary to live there)Area(s) of interest (not set in stone)Jersey City areaConditionB or C-level (A-D scale)Semi-distressed with potential for minor rehab upgrades ($35k max)DealbreakersFoundational issues / big required rehab due to FHA 203(k) max for streamlined versionSize2-4 units (higher the better)2-4br per unit preferredMax Budget (FHA loan limits)NYCSingle-Family Home: Up to $1,089,300 + 3.5%Duplex: Up to $1,394,775 + 3.5%Triplex: Up to $1,685,850 + 3.5%Quadplex: Up to $2,095,200 + 3.5%Hudson County, NJSingle-Family Home: Up to $1,149,825 + 3.5%Duplex: Up to $1,472,250 + 3.5%Triplex: Up to $1,779,525 + 3.5%Quadplex: Up to $2,211,600 + 3.5%TimelineTitle in-hand latest: Jan-Feb 2025Can potentially buy earlier if I sublet my current apartment in NYC as needed (lease expires Mar 1, 2023)Rehab: 30-45 days max of minor rehab/renoMove-in: on or before Mar 1, 2025 (hard deadline)FinancingLoan type: FHA or FHA Streamlined 203(k) for rehab <=$35kPossible conventional loan if I seek investment from family/friendsApproval statusGoal is to get pre-approved now in advance for credibilityMy statsEmployment: Full-time at large bankIncome: low-mid 6 figuresAssets: low-mid 6 figures (including 401(k))Credit score: 800DTI: 2.5% (student loan)Thank you in advance for your support.

The only time, I would recommend a purchased warranty would be if you are in a position that the thing(s) you are warrantying could cause you serious financial distress.

The right team will do everything possible to right the ship in the storm - which we faced last year.Timing the market is never a good idea, but personally, I see it as a much improved time to buy, as pricing is down, some sales are distressed and sold at a discount, and interest rates appear to be heading in the right direction.

there are certainly exceptions, but in general, to flip or BRRRR you have to buy something distressed that is off market.hope this helps

These big beautiful bricks have been here since the early 1900’s and aren’t going to get toppled over by a single or distressed section 8 lady that has been previously stuck in a shelter or one who’s fighting for her and her children’s lives.

Distress is where much opportunity comes from. 

I’ll probably live in an apartment for a bit while I re-qualify as a first time home buyer and hopefully find another distressed property to renovate either in WA or Midwest .