That said, I will still try to provide some “clarity”.Purchasing a property “subject to “ the existing debt can be done two ways.  

You could have used that $8800 to possibly have partnered with someone locally that is already doing the subject to deals to figure it out first hand.

These sorts of questions are inherently subjective to the risk profile of the investor - but I'd like to hear some other perspectives on it.Thanks to anyone willing to share their insight.Mike

If you get 100 leads, about 2 - 5 will be "hot", meaning they'll be at or below 70% of ARV.

So suggestion google flat fee broker in your market see if one exits and if your product is that hot negotiate the fee..

However, I've NEVER had a note called on any properties and the vast majority were "subject too" and/or owner financing.

I'm a professional musician and have dreamed of being in the real estate game for many years while I read books and listed to pods on the subject.

Both are great markets, but CLT is hot right now, and far less expensive compared to inner Boston.

@Frankie Lotrec if you have an existing loan on the property and you plan to legally convert from a 4 unit to 5 unit , you should check the loan documents because you’d essentially be converting it to a commercial property, since 5+ units is considered commercial and subject to different appraisal approaches and so it would rule out the property being considered for purchasers utilizing residential financing.  

When an appraiser is adjusting a comp to match the subject property, he or she will use an adjustment based on the difference in square footage.