Best thing to do with subject to is to have the seller transfer ownership into a land trust where you are the beneficiary of the land trust.

I have 2 long term rentals both at 7.5% interest rates.1. estimated value: $950k, outstanding mortgage of $574k2. estimated value: $900k, outstanding mortgage of $514k#1 cash flows nicely for me at $2500/mo, but #2 leaves me at a $400 loss each month, mainly due to the interest rate.

The current owners do not have a mortgage, and would sell it to me direct.Since the don't need the cash, I'm going to offer $50k down at a 3% interest at a 30yr rate, but buy them out and remortgage it with the bank at year 5.No money needs to go into it, i have a $100/mon HOA, ~$800/mon escrow.

The best answer is to let one or both move out, and place quieter tenants in the unit.

(And having such evidence - with the tenant’s knowledge of its existence - would likely make it unneeded.)Obviously, none of this is a legal requirement, but we all should share our best practices here - I was not born the perfect (looking) person I am today.

I am still thinking what is best approach here.

It’s great that you’re combining that with real estate.I'm not in SE Idaho, but I connecting with local investors and attending meetups is the best way to learn more about the market.

As for tips, I wrote an old piece with my best tips for property management for BP.

The best thing to do is approach them in person and inform them you are the new owner and that you will need them to vacate.

If the tenant is paying the HOA fee, you may have to reduce the rent rate to make it make sense.