This is not a typical residential mortgage industry concept of specialty. This is a high level (possibility too slick for your own good) professional real estate strategy to take down a property without actually buying it. My concern with Sub-To is “What happens when / if the seller’s lender finds out the title has been transferred out of the seller’s name. Will they call the note due and payable within 30-60 days?” These opportunities are not readily available and are not for novices. I would not recommend a MLO even consider trying to learn these complexities. If your career is going to be full-time real estate investor then maybe this could be a strategy you wish to deploy when (and only when) it makes sense.
Don’t lease option with someone with bad credit. That would be like wanting to enter into a health competition with someone who is obese.