Also, there are regulations for parking spaces needed, and other hurdles that makes it almost impossible to buy a big old house and turn it into a rooming house (I thought about doing it for the increased cash flow until I dug into the subject a little).  

Matter a fact he missed understand what I was explaining to him about subject to and he understood as he would need to continue to pay the mortgage for an additional 6 months until I behave the property and sell it.

I'd like to learn more about subjects like budgeting, saving for retirement, choosing a credit card, etc. 

Simply put in the contract that the title has to be merchantable and the purchase is subject to the Buyer reviewing the payoff of all liens.

Also while I'm on the subject, a lot of my nixies read "not deliverable as addressed" and I'm taking them verbatim off the local tax assessor website, so does that most likely mean there isn't a person by or close to the name registered with the post office matching who you've addressed your mail to? 

Taking a property subject to existing liens is not a big deal.

Substitution of collateral for a loan, i.e. a free and clear property that you can sign over to the bank until the subject property is done.

can someone explain these two subjects for me ?

I pretty much break even each month.THOUGHTS -- sell it to your tenant subject to a wrap mortgage for about $500,000, or sell it subject to the first and a recorded second that will equal your equity.

I have a few videos on this subject that has more step by step info that's a bit too much to type here.