Need advice on condo with high LTV for wholesale transaction

[Remi Oguntoye]

Hey Guys. I am eagerly trying to get my first wholesale transaction closed. I have a lead on a condo in Lithonia, GA. The seller, on the surface seems motivated, as there are some health issues that have recently popped up. The owner has total mortgages of around $75k, and that was the preliminary number the listing agent threw out. The listing agent is her father, but he doesn't have time to market the property currently. They plan to ask relatives if they would rent the place for a while so that the owner doesn't have to float two mortgages.

I can't get a great ARV estimate on the condo, as there haven't been any closed sales since November 2018 in the immediate area. The area isn't particularly active, but rents could be as much as $900/mo, once the property is rehabbed.
  I had a realtor run a CMA on the condo, and high, average and low sales prices were $71k, 52k, and $42k, respectively. I will operate under the assumption that the ARV is the average ($52k), and work from there. I have another call with the listing agent tomorrow, to see what repairs the condo will need to be rented out, and provide them with an offer to buy their house (even though it'll be lower than they want).
My question to you all, in the meantime, is do I have a deal possible? I will make an offer at the value I need it to be to work, but I wonder if I shouldn't try proposing a Short Sale, considering the length of time it takes to get these things approved generally. Any advice/thoughts are greatly appreciated! Best, Remi