We have had discussion on this before where you indicate that you did not see rent declines but I point to average rents in Las Vegas having huge declines from the GR and the state loosing ~186,000 jobs. 

The fact that all residential loans contain a due on sale clause is a large factor in the decline in subject to deals.while I did do some subject to deals in the old days, most of my home runs were the result of being able to close fast and pay cash without waiting for financing, and to make offers without the usual financing contingencies.  

I have already declined this request in writing.

The only question is how soon this will happen.If your goal is a high initial return, and are not concerned with rents keeping pace with inflation, buy in a declining location.

I called few CC companies last month and they declined to transfer money to bank account (they do balance transfer only for other CC companies).

Just like the stat about population decline in Illinois is entirely irrelevant to your few units.

prices start declining given the interest rate situation.

I'm curious if any other owners or managers have noticed a decline in the program specifically over the last year or so...

This needs some clarification regarding who is the buyer and who is the seller.IF you sold the home with owner financing and the tenant wants to refinance and lower the rate, I would decline the offer.

Any help is welcome and greatly appreciated.Best,JimYeah, properties are cheap in Cleveland due to the declining job and population growth.