Good luck to you, it was a nightmare that I will never forget- great learning experience for me though!

I am not out on the teaching circuit anymore, but I was for 15 years and have written 4 books, and many courses, on the lease option topic (one for the UK), so this topic hits close to home for me.  

I would, If in this position, take the equity in the form of a HELOC and purchase a cash flowing asset that would not only pay for itself but pay for the cost of the money while putting cash into my bank account each month. 

Thats not my model and homes at that price point havent penciled out for me but im very much doing BRRR in my market with properties that do pencil. we add ~50k-60k of equity per BRRR on properties around 200-230k ARV  You can definitely create equity in D.C. though the 200k listed above is highly unlikely, the biggest issue is at those price points you are deep in the red cash flow wise after refinancing. 

As much as I'd love to rehab the properties to boost the ARV (which was the initial goal), funds are tight right now to do that so as-is is the way for me to go.Absolutely.

Huge Red Flag for me!

Hi Michael,My realtor who sold me the house is going to manage it for me.  

And yes, attorneys make money from forming LLCs, but they make way more when you were negligent and didn’t know what you didn’t know and end up in a lawsuit. 

The Alabama market was hot for me in 2022 then took a turn in '23 and '24.

For me as well as the seller.First, you have to define Sub to financing.Do you mean the reckless kind where you overpay for a property, take over the financing and borrow from others to cover closing costs and holding costs when you have no money, no credit, no income, no reserves and can't tell a warranty deed from a deed of trust and you close on the kitchen counteror do you meanbuying below market value, already having a nice income, having reserves, using escrow and title, already understanding the due on sale clause, have done a lot of creative purchases and know when to use and when not to use creative finance and how to recover if something goes amiss?