Realtor then goes into contract with buyer subject too the property closing and divulges he license status to the buyer. 

This would be doing a subject to and then renting it to a tenant buyer that could possibly put down the amount of back payments owed as a down payment.  

Subject property sale price around 200k.

Brian Walters   when your buying low end assets you should expect to buy them as is.. that's why they are cheap and low priced.just have your contract be subject too your inspections its no big deal.. if they will not let you go into contract and want you to do a home inspection first..

Looking for a real estate attorney in the San Antonio area that knows how to construct a "subject to" the financing in place.

So, I was listening to the BP podcast and the subject of how to do background checks on your renters came up.

And you want $150k ish on a second mortgage not on the subject property in PANAMA.

Always have a contingency in your initial offer, especially on "as-is" properties, that the offer is subject to an inspection regarding the foundation, structural integrity, etc. 

Cleaning is always a hard subject because tenants usually don't have the same concept of cleaning as you do, so you are you are always going to have tenants that think the property was clean when in actually.  

You find the average cost per square foot of those properties, multiply it by the square foot of the subject property, then add/subtract for condition and other factors.