You will not be successful in getting any loan balance forgiven by taking the home subject to.

The buyer can either assume the mortgage if the lender agrees, or purchase the property “subject to” the mortgage if the lender isn’t agreeable or if the buyer does not wish to approach the lender or assume liability for the mortgage.

Bigger Pockets Family,I've been considering doing some distance multifamily investing in areas that I have either lived or frequently visit.

We would get asked this years ago more frequently on our flips, we never minded.

Example- subject property-123 main st  3bd 2ba  year 1935  sqft 1542   $45,000 MLS Fail Comp 1   130 s greenwood Ave 3bd 2ba year 1941 sqft 1649 $222,100 soldARV- 211,254 Sqft $137It’s out of datedMAO 62,878 It’s doesn’t look like a dealDo I need find other comp and adjust the appraisal 

@Ben Cranny, how many rentals are available is completely dependent on your market and the ratings are 100% subjective.  

Under MLI Select it said Purchase/refinanceOPTION A: 80% of units: maximum rent is ator below 30th percentile of rents (CMHC in thesubject market) for units of similar type (numberof bedrooms)OROPTION B: Project approved under otherhousing programs/initiatives (municipal, provincialor federal) that provide support for developmentof affordable housing such as capital grants,municipal concessions or expedited planningOROPTION C: Social housing projects with upto 5 years remaining on operating agreement:additional criteria applyNote: For all options, the affordability of designatedunits must be maintained for a minimum of 10 years.Affordable units are subject to provincially allowableannual rent increase or CPI.Pretty vague description and doesn't speak to the point system so i'm waiting to hear back for clarification.  

I wanted to also keep track how frequent I mail to each property or is does that matter?

Originally posted by @Bob Metry:Bob,(FROM IRS) What individuals are subject to the Net Investment Income Tax?

Otherwise they're just handing over a $1M property to you and if you default, they have to foreclose which is time consuming and expensive.If the seller does have a mortgage, then it's far more complicated and more of a "Subject 2" scenario where you're not taking title but making payments.