Advice for closing a deal before it hits the market

[Michael Peters]

Hello Everyone,

First time posting, thank you in advance for any and all help! I am new to BP and investing in general but believe we have a great opportunity to pursue that I am looking for advice on.

We have an elderly neighbor that has been moved into an assisted living home due to health decreasing. He does not have a lot of family, his closest relative is a few states away. This relative will be handling most of his estate issues moving forward. We see an opportunity to make an offer on this house for a flip because the house has not been updated in a long time and we believe the relative will want a quick/easy sale. 

My question is: What is the best way to make a deal without having the relative list the house publicly?

This would be our first deal, so the financing piece is very new to us. We have $50k saved and great credit. We are comfortable making an offer up to $300k. Can we do this deal with FHA or standard financing? What other options do we have? What type of financing (besides cash) are most appealing to a seller and why?

Thank you,

MP