Got A Subto Deal...now I Gotta Sell It!
OK, just signed the ALL the paperwork...closed in under 2 hours!
Seller responded to a postcard. He was relocated and was paying 2 mortgages. I made my offer IN AN EMAIL, answered questions on the phone, scheduled to meet, did the Deed (and other noteworthy docs ...heh heh), met the Notary, got him a check and he gave me the keys.
$327K current loan
$15K paid to seller for equity
$2700/mo PITI
$6K to paint outside, refinish the deck (inside was totally redone)
FMV $440K
The only concern is getting enough Dwn Pmt to (more than) cover my up front cash and getting a buyer to make that monthly with a little pack to it. But, this is California, someone is buying all these houses....
I am now more than convinced that John Locke's methodology works. Follow it. Stick with it. I started with the manual and then got the full course. This was a textbook subto seller and it went down just as John details in his books.
There's no place like houses, there's no place like houses.....
Molotov 
Way to go Mark.
So you CAN do this in California after all...maybe it can be done anywhere.
Good job
John (LV)
A BIG congratulations Mark.
Way to be man!!!