I’d rather take the cash and invest in my own deal or bring on a partner.

The seller is asking for $40,000 down which I am able to pay in cash.

.: Subject To and Wraps are very similar and yet, very different.Subject To & Wraps share these characteristics You are taking over payment of the mortgage and transferring the property into your name You become the owner The loan does not get paid off The lender can and sometimes will call the Due on Sale You have to have money or credit to solve a Due on Sale call They are used when someone doesn’t have much equity and doesn’t want to pay a real estate agent They are used when the seller wants to sell fast They are used when the property isn’t really a good candidate for the MLS because of the condition of the property They are used when It’s a unique property and it’s hard to find comps They are used when it’s a distressed situation that needs to be resolved They are used when the monthly payment is below market rate (that means it cash flows) They are used when the seller wants to avoid the hassles of listingSubject To & Wraps Differences In a Subject To, NO new mortgage is created.

If I can get from point A (drawing up plans) to point B (finishing the build and renting the cabin as an STR) I know that this thing will be a cash producing monster with a fantastic ROI.

Nothing wrong with that if you can avoid owing Uncle Sam a bunch of cash that can be used as a down payment to buy more REI!

DSCR would be the easiest route and then you can rent all the units instead of living in 1 and cutting your cash flow to 2 versus 3. 

Like @Stuart Udis said, most of the time its more cost and time effective to do cash for keys and throw a few grand to hopefully vacate so you can change the locks.

My wife and I buy the homes with cash we borrow from a hard money lender. 

I am having a hard time finding anything that cash flows with a down payment from 20% - 35%.

Purchase price: $100,000 Cash invested: $35,000 Purchased for 100k, Rehab 40k, resale for 190k.