Hi Fulton,Did you suggest the CPA's to help with Sub To deals, or in general with accounting and tax services?

That is a great deal.If the guarantor for the loan has 720+ credit, even with no experience, you can get 90%/100%So the costs of the deal would look like:Loan amount: $212,50017,500 down payment4,250 in origination1500 admin/service/legal fee1200 for title600 - 900 for insurance maybe 5 loan payments at 1700 each or so: 8500You need to front at least 10k to contractor to get startedUtilities for 5 months: 1k - 1.5kThat all comes to like 45,300.

I just wanted to add:The new Ordinance from City of Jackson Mississippi requires registration of all rental units, the payment of an annual fee of $50 per rental unit, annual inspection by the city, fixing any inspection issues, a fine for late or non compliance.And, it requires out of area owners to have a local PM or agent.I believe the fines can run to be high dollars.

Also the property taxes are extremely high for properties especially as a non homesteader. 

Besides trying to scale now with these rates is a non starter.

Just make sure you know the rules for loans with a non-occupant coborrower, as depending on the relation (whether they are a blood relative or not) and the type of loan you plan to use, there can be additional requirements for LTV and DTI.

My wife & I own an Air B&B, and run it as an LLC in a non-communal property state.

Banks have definitely tightened up recently - no doubt The number of dollar amount is staggering 40% , wells fargo in particular is running away the fastest from these asset.I've been wondering who would bail out the non-bank lender later on with their declining rent and dscr below one.

Cutting services and changing door locks, no matter how tempting, is a definite no-no.

I would encourage you to look into your father's Reverse Mortgage documentation -- is it a Recourse or Non-Recourse loan?