I'm confused, I thought buying property subject to meant taking title (a deed) to property that had an existing loan on it that you (the buyer) were going to make the payments on. 

From a practical standpoint, since you were already in the process of buying the property, it's probably too late to bring in another lender before the end of the purchase.  

There’s not much time to hunt for a better loan, and this option helps you save cash and increase your buying power.

Our long-term plan is to eventually move out, rent both units, and buy a house of our own.

Maybe people buying and not fixing up who just want a multi unit at lower price point?

The Midwest and Southeast have good buy and hold metrics, maybe not really for flipping.

@Cliff Durrett Just buy at the auction.

To make the numbers work, you have to buy right!! 

I'm planning to have a separate bank account/accounts for my entire portfolio, just wondering if anyone has recommendations for software to use as someone who'll have buy-and-hold and will be working with a property manager?

As a new property manager I’d like to be on top of that if someone asks me, what I suggest would look the best and be the best in their rental units.I had an awesome property manager who would buy the modern nice looking flooring in bulk so when his owners needed to rehab a unit he sold them the modern vinyl plank flooring for cheap.