I am making the assumption that you have already run the numbers and determined this would be a cashflowing rental either way (whether you financed or paid cash).  

For example I'm entering a new market with a new banker and I sent him my underwriting and asked his opinion on my assumptions.

There's the risk the loan could be called by the bank, accelerated by the bank, or the bank will require you to assume the loan in your name and charge you an assumption fee for the transfer, plus require you to qualify.Contact BP member Jason Hanson, as "Subject-To" purchases are his passion.

It's possible to "grow into" an investment.The rents that you are talking about (I assume for three units) are stellar so the $1.2M assumption would seem to be low.

That was my assumption, but I wanted to clarify.

Post the details here and the community will be happy to double check your assumptions.

Verify with your cpa including your assumptions.

The one thing I would emphasize is that if you are planning on raising capital for another sponsor's deal then be sure you are still thoroughly educated so you KNOW what the sponsor's assumptions are.  

have her deed it over to you as a nonqualified loan assumption, rent it back to her for note amtno large dn pmt or major closing costs (still recommend using a title company/title insurance)

I'm lookiong to get some more seasoned eyes on my analysis and feedback on points I may be missing or assumptions that may be off.