Property taxes are based on the vacant lot that existed before this home was built!

A note buyer, if such a unicorn existed that would pay $136k for it, would pay off $100k directly to the first, and the balance of $36k to the seller. 

Usually, when you buy an umbrella policy, you have to provide evidence of your existing coverage (at least I did). 

Our entire existence is in a PerverbIal bubble and someday it’s going to burst !

Luckily, I had an existing relationship with a local portfolio lender, and they were able to get me approved with a LOE about my travels.I have been a long-time follower of BP and the @Scott Trench model of building wealth, and feel this first property fits the mold for a perfect house hack.

The way "subject to" is being used here means "subject to existing financing."

@Jeremy Mahan I would suggest keeping the existing property, using any equity + down payment $ to buy another investment property and continuing to live well-below your means. 

Get a contract highlighting this a takeover of 'existing' financing, and give myself a 90 days grace period before the first payment.4.

Most times you can stucco over existing siding if it's bad shape or strip it and install boral or hardie plank cement based siding. 

For existing properties the contractors had crews doing it for cheap when the cycle came off of the bottom just to keep business going.