This would be my first subject-to deal so I was curious if there was anyone who could provide some tips or support me in the details (paperwork, insurance considerations, using a land trust or not, structuring the terms advantageously, things to look out for)?

ToniThose are really solid tips!

Is your DSCR ratio greater than 1-meaning are you cash flowing (according to the lender's criteria of mortgage, property taxes and insurance (and HOA) if applicable).

After talking with the seller, Furnace needs to be replaced, part of the roof is 3 yrs old/ most of the roof 18yrs old, plus back taxes of around 5,000. 

Still very close to CA but no state income tax, property taxes DO NOT reassess on the sale (4th lowest property taxes in the US), much more landlord friendly, diversified job growth, population growth, and Reno doesn't have as severe of weather in the summer as Vegas.

it’s a closed system and  no clue what’s happening behind the scenes.they have unpaid tax bills on their properties and they have taken loans on top to pay those bills because the property revenues can’t cover those bills for example this one https://www.lofty.ai/property_deal/4318-Clybourne-Ave_Clevel...

Factor in the cost of property insurance and taxes, as these expenses can impact your cash flow.

Option 2: Purchase additional properties and build portfolio I know that there are some tax implications to no having the mortgage payment to consider.

If I was in financial distress and losing my home through foreclosure or tax delinquency, I would not want to deal with an enthusiastic newcomer trying to make money on my misfortune.

My question to you guys is...would you go through a flip for 30K or less before taxes.