I want to be able to point a sub domain site1.mysite.com to the same folder in my acccount as site1.com, is this possible? This is mostly for access to the account until I transfer the DNS settings.
As long as you make sure the DNS record exists on all relevant DNS servers, all you need to do is add an alias for site1.mysite.com in the control panel (Web Options - Server Alias).
Ok, if I add a server alias there is no way to point that alias to a different folder. When I enter the server alias it just points the alias to the root folder.
One way that I envision using a sub domain is admin.mysite.com which would point to an admin folder inside the same folder as mysite.com not a folder outside of mysite.com.