BACKGROUND: Bought a property SUBJECT 2 an existing 1st lien (lets say serviced by Shellpoint) years ago.

However, not everyone has the income to qualify conventional, so the alternative route would be DSCR loan where the program doesn't look into your income, instead it evaluates based on the subject property rental performance based on the ratio system.

Stuart you bring up a point that reflects a whole subject that’s a topic onto itself.  

For a subject-to (subto) property you plan to use as a short-term rental (STR), you should provide the lender with a regular home insurance policy to meet their requirements.

All of the risks of "subject to" then come into play (with a "wrap"); read this thread:http://www.biggerpockets.com/forums/83/topics/86029-subject-2-protection-from-calling-mortgage-due

Anything i should be looking out for when doing a subject-to deal? 

Don't ever do subject to if you are underfunded2.

I find that two of the biggest mistakes are in the manner in which you ask for the money (there is a good way and a not so good way) and not having enough knowledge on the subject and the proper info on the presentation of the deal itself.When I need to fund I deal, I am not asking for money, I am offering a legitimate and alternative opportunity for others to make money.

Do you  mind inboxing me or posting your lender that you used for the subject property.Congrats on a seamless, positive transaction.   

Here's the background.  We have a tentative agreement in place to take over payments on a property owner's home, renovate it, then sell, sharing profits with the property owner. We need to find the owner a place to re...