I'm particularly focused and eager to learn as much as I can about the Sub-To (Subject-To) method and Owner Financing.A little about me: I own a multi-service home improvement company, which has given me a solid foundation in property maintenance and renovation.

Is there a loan on the property in both persons names?

It's the same work to do a $55K loan as a $500K loan so the fees will be higher due to the loan amount but will still be much lower than what a lender or broker gets paid on a higher loan amount.

I am thinking of just getting a first-time home buys loan at the low 3.5% to 5% down and just living in it for 12 months then renting it out.

Looking for something that helps factor in all variables, fixed costs, interest paid on hard money loans, reno costs, etc etc. 

If you are not implementing a value add strategy, you would probably be better served putting a mortgage on the paid off property and/or getting a HEL (home equity loan) as both are fixed rate debt.

I would hate to lose the lower rate loan and not be thrilled to give up the prop 13 savings.

I own the property 100% (paid cash)  over the property ill be looking for home equity loan to buy and purchase another property,  repeat the process and start the BRRRR method.  

Bank rehab loan.

When you find a buyer, we get our loan back plus our fee at closing.