Creative Solutions/Options

[Kenneth James]

Greetings all,

This weekend, I'm at an expired list property; owner occupied. After talking to the owner in person, I find out they still owe $165k on the mortgage. The property is in pretty bad condition - roughly $65000 in repairs. ARV is around $275k.

The owner is motivated to move due to health reasons. But firm at $185k (?)
They mentioned a need to have an extra $20K to get in another home.

Is their a deal here? They were open to lease option, but I don't know if this scenerio lends itself to a lease option opportunity.

Am I missing something?