Newbie Needing advice

[Katie Nguyen-Curby]

Hello Bigger Pockets!! I am currently trying to find deals and wholesale on the Treasure Coast in South Florida! We have yet to complete a deal but we have started getting leads. I sent out maybe 25-30 texts this past week and had a man respond saying he might be interested in selling but that he couldn't offer much of a discount if I was looking to flip or wholesale. Seller lives in Central FL, the target property is on the coast, and he said he was looking to invest closer to where he lives. His house is a 1980s, frame, 3/2, in my area code, on a quiet culdesac. 5 minutes to the River 15 minutes from the Beach. He would be happy with 164k but would take less if it was cash. Seller also said he would be open to payments. ARV of the house is around 170k. He has tenants in place for the next 6 months and their rent is $1375 a month. Average rents in the area are 1500-1700 for the same house, my house is also a frame 3/2 I bought last year for 164k and I was offered 1600 right away in rent. I wanted to make a cash offer of 105 but then found out he has an existing mortgage of 120k. So wholesaling wont work. I am now thinking of asking for seller financing in addition to his existing mortgage and keeping the property for cash flow. Looking for advice on Subject2/lease options/ or should we just walk away? Appointment to go see the house in 2 days!

ARV:170k

Repairs: 5k Could use paint on outside but roof looks good ac is new as of 2017 and house seems to be in good shape. I also do home inspections with a family business every now and again. We will have a better idea in 2 days but judging based off of the outside, house is in good condition.

Existing mortgage: 120k

Current Rents: 1,375mnth

Current Bills: 1100 a mnth

Current interest Rate 5.5%

Avg area rents: 1,600mnth

Any advice would be highly appreciated. I am looking for advice on strategies that might make this bad wholesale deal a good ____ deal. I am aware of the due on sales clause, looking for advice on how to structure this deal so it wouldn't trigger the bank to take back the house. Would keeping the deed in escrow work?