The client is protected because we have an executed contract for rent and a non-performing tenant is subject to damages for the length of the time it takes to find a new tenant. 

@James McAlister thank you for the information, please excuse my ignorance on the subject as I am new to the industry. 

I've read a few posts about this subject.

I just would like to know others insight on the subject, any beginner tips, do's or dont's, and any good or bad stories.  

I'm new to the forum but read articles on here quite frequently. 

I'm from South Central PA & I attended school in Philly.I have family in Hampton & visit frequently.  

@Anthony Johnson Read this Anthony:"Investing in Real Estate With Lease Options and Subject-To Deals" Wendy PattonVery enlightening.

I hope this helps me as much as the many other forums i've joined on various other subjects.  

(Apologies for the typo in the subject - can't figure out how it edit that)For someone looking to get into multi unit/apartments I hear it's good to take a look at a few properties along with running the #'s. 

This is a  "Subject-to" transaction, hopefully using two notes.A seller is willing to take I/O for 20 years is probably 1 in a thousand and they will be taxed just as Greg is, make that 1 in 10,000.I'd bet Greg doesn't mention the other issues with a Sub-to, foreclosure, Greg can only foreclose on his interest, that could be paid off, the note to the first seller is pretty worthless, that can end up going to the state in a medical issue, then there are risks of bankruptcy, law suits by other parties, collections and servicing, deed transfers, insurance, liens and the list goes on, which is why you should not do long term subject-to deals.