Possible "Subject To"

[Gianluca Carella]

Hello all,

Quick disclaimer: I am relatively new to this so bare with me. 

I have recently come into contact with an individual through a good friend of mine.  The guy who owns this home will be two months delinquent on his mortgage payment as of 07/01/2019 with no resources to bring it back into good standing. He purchased the property years ago for 277K and has roughly 50K in equity in the home.  Home is currently valued at roughly 390K give or take.  What would be the best approach at this so I can help the guy out and also make this worth my time.  

Here are my thoughts,

1. Purchase the property for the total loan debt plus enough capital to help him out in finding his next place to live. Then resell for the difference.  Im assuming based on the previous purchase price and total equity in the home he has about 225K in debt +/-. That leaves a pretty good sized amount between this sale amount and the home value currently. 

2. I purchase the property subject to? I have a very basic understanding of this, however if this is a more viable option would someone be kind enough to educate me on how to put this deal together?

Thanks in advance,