They are like bank owned properties except HUD is like the bank in this case.

Except I plug in different loan balances @ 19 years and 20% to see what amount leads to the payment that you're currently receiving.

On the flipside I've contacted a real estate expert named Judson Voss who told me that some banks don't like properties to be wholesaled at all so they won't allow anything except a realtor commission.

We invest when we run across an exceptionally good deal and it is the right time for us.

Some were specific to subject to's, others were modifications to the usual forms.1) Warranty deed - Stated deed was being given free and clear of all liens except the one left in place.2) Title insurance - Listed the existing loan to be left in place as an exception.

Mortgage has NOTHING to do with anything, except interest expense.

The paperwork is just a normal closing with the "subject to" exceptions.

Unless you have an exceptional loan, the interest alone is probably more than 6% of the purchase price per year.Now, if you have just a few rentals, and you get lucky, your year by year expenses may be well under 50%, and you may think you're making money.

Very expensive (over $20K) jobs are an exception, as are long term (2 or more weeks), in which case have YOUR attorney set up a draw account and him/her disburse the funds.2.

I can do everything and just as good as a pro, or better, with exception to roofing and hvac.