I'm looking for an attorney who is familiar with Subject 2 contracts. 

As my subject line suggest, however, I don't know the first thing about it.

Maybe @Brandon Turner has some insight on this subject?

Property values are subjective and even an appraisal is not always the best estimate of actual ARV esp. if there are a lot of foreclosures in the area but it does provide a generally accepted measure of value.

Foreclosure leaves you subject to an underwater 1st lien. 

I would recommend a minimum of $7,500 for this house.Alternatively, you could just sell it "subject to" and get rid of it right now.

"Best" is a very subjective word...AF 

This is a very complex subject and an unpopular one for some so I won't go any further other than to say that you can't just look at a neighborhood in isolation. 

Florida Palm Beach CountyA friend and I are buying junior lien foreclosures taking the property subject to the existing mortgage, what are the strategies in dealing with the mortgage assuming the property is not upside down and we do not have owner cooperation.Best regards,-John 

Douglas,  try picking a topic of interest like, single family home rentals, wholesaling, becoming a real estate agent or buying real estate with no money down, and learn all you can on that one subject.