The less impact the buyer's down payment does, the stronger you want the borrower to be in capacity to pay.  

We drew up a partnership agreement outlining share percentages, roles/responsibilities, clauses in case of death or incapacity, Right of First Refusal in the event that we want to dissolve the partnership, capital call provisions (needing additional funds), written approval from members for expenditures over "X" dollars, etc.

I still may have to do it in limited basis if I invest in capacity that I don't have prior knowledge, or in state where I am not licensed.

If you are renting or investing in RE for this demographic any in capacity, please comment with details.

Subject to is short for getting the deed subject to the existing mortgage.Pro's:- quick transaction- no closing costs (or very low - just the cost of recording the deed with your county)- since there is no or very little costs, if done correctly, it's a way for him to pay off the mortgage (once YOU sell the property) without having to bring money to the closingNOTE: usually, sellers agree to selling the property subject to because their properties don't have any equity, meaning that if they sell the traditional way, they will bring cash to closeCon's- since the loan or mortgage remains in his name but the property is in your name, if something bad happens to you (death, disability, incapacity), then he is still obligated to pay the mortgage.

They are -- statute of limitations, -- bankruptcy, -- death, and it's too late to file a claim against his probate estate, -- Seller mental incapacity (and this one is a maybe).Then there are the business reasons not to sue.