Question for the subject matter experts out there. 

You could ask for a discounted fee from the agent since the potential buyer will most likely accept the home 'as is' and won't be subject to an appraisal.

@Danny R. the question on when to form a LLC or not is a hotly debated subject.

Remember, you can’t legally force somebody to sell their home (at least in NJ).I haven’t done one, but this might be an interesting use of a “subject to” purchase.

This eliminates the "subjective" component that gets so many investors into hot water.  

Its a subject-to purchase, effectively with no agreements. 

The fact that REO properties are always AS-IS has nothing to do with the fact that many sellers of real estate are offering their property subject to inspections and negotiations on treatments, repairs, and replacement.   

I was talking with a lender today and he was under the impression that loans processed through Fannie Mae’s Desktop Underwriter (DU) would not be subject to the dreaded due on sale clause if the mortgagee were to deed the property into an LLC or trust.

In all likelihood, you would own an incomplete 14-unit project now subject to a 1st position mortgage.

Stick to what your state law outlines in regards to landlord/tenant laws and how they pertain to security deposits.