There are some crazy, super complex strategies that could theoretically work, but it's a long shot.

How long does their property turns usually take?  

Does anyone here run profitable rentals (long term or short term) and would be willing to share some good locations / strategies on getting started? 

Tenant who has been in property for 6 months came to us and wants to break his year long lease to move into another house in the same neighborhood.

As well, there is another group doing it at 90 if you wanted to wait that long. 

Long term I anticipate construction costs will generally soften as the high-rate environment continues and stifles development.

But your goals, timelines, etc are not outlined at all.Common issues I see on these forums: everyone thinks they are getting a little cash flow, but over the long term, they are a) not getting as much as they underwrite and/or b) typically hurting long term value by creating cash flow through deferred maintenance.  

And as long as you own that property you'll never pay the tax. 

We have been thinking about this for a long time, but finally decided to pull the trigger.

After all, they were headed that direction before I stepped in to buy their house in the first place.In 2023 and beyond, I think acquiring houses subject-to is a smart strategy, especially if you plan to fix and flip because you don't need to keep the mortgage in the original seller's name for very long.As for acquiring rentals, subject-to is also preferable as long as you can count on at least $300 + in cash flow (and have reserves for 6 months).