3/2 Block Home 1900 sq ft.
Purchase Price 120K
Subject to Existing Mortgage – 93K
Interest Rate – 5.12%
Loan Maturity – 06/2049
Cash to Close – $5,000
Balance – 22K To be paid in equal payments over 60 months at 0%
Currently Rented – $1,300,
To reduce risks and out of pocket expenses, you could accomplish everything you want to do by just getting an OPTION on the property with a stipulation that the owner needs to get the tenants out. Then do a Highest Bidder Sale. You can stay off title this way.