If I can find details of owners and contact numbers, I would try reach out to them to see if they would let me take over payments- subject to**.  

I'm confident that I can make it happen, though, so I'm volunteering to take on the task of raising capital.Once I figure out and refine/streamline my process for raising capital, my next goal is to scale and balance incoming capital with incoming deals.Now, I don't have all the details yet, but I know that there's a lot of opportunity to get into hot water in the process of raising private money (i.e.

Hey,
I was wondering if anyone could tell me which zip codes in my area they invest in or know of that have a lot of activity.
I'm getting into wholesaling so I would like to gain as much market knowledge as I can.
Al...

I have been throwing ideas at my lender about the same subject and they are pretty firm.

I train in wholesaling but also lease options and subject to and wraparound mortgages Virginia is pretty strict and having a real estate license really does help youI would start a marketing campaign toward houses with good school districts in medium priced housesI like expired listings because they want to sell I would knock on their door and give a free report and then follow upMost expired listings are overpriced because They don't have a lot of equityInstead of an assignment I use an option release because in many states assignments are frowned uponSo here are the steps-Contact the expired listing seller-Show the cost is sell by listing with an agent-Compare that with lease to own in getting your sales price without a sales commission down the roadYou can either act as a principal in the transaction by creating a lease and option with your LLC or sign a listing agreement and charge a fee to facilitate the lease to ownIf you're acting as a principal, you take your option and place a memorandum of option against the property at county recordsOnce you have the house under contract you market for tenant buyers in that area that have 3 to 5% downEither the tenant buyer or the seller or both will pay your option release feeP.m. me if I can help youBest wishesBrian

@Mark HoDo a joint venture w the sellerYou want to offer the seller a joint venture agreement and buy it on subject to and get titleYou give a note for their equity in the JV agreement you agreed to pay after note in 3 to 6 monthsYou have title and then you sell w an agent pay the costs to sell with the agent pay the note off and hopefully you have a good JV fee as profit

Again, all of which violate a lenders DOS and are subject to compliance with Dodd-Frank.Federal Law allows an owner to place their property in to their own Revocable Living Trust, more specifically a Revocable Title Holding Trust, name beneficiaries or remainder agents, one of which may agree to lease the trust property on a net basis.

First question: Given my objective and the rather hot real estate market in Austin, are my expectations realistic? 

Can i do a subject too deal and live in the property and keep if its underwater or is it better to rent?

This obviously is a little bit touchier of a subject.