Need Help With Property In Philadelphia

[Deshawn Lewis]

I'm in need of some help, my uncle came to me the other day and asked if I would like to take over his rental in Philadelphia. He knows I'm in RE and just would like to help me out in getting a property. it's in south Philadelphia an up and coming neighborhood. He only owes 40k on the house and is worth about 100-120k. I was thinking about trying to assume the mortgage but was told it might not be possible. I might just have to buy it from him. He is willing to sale it for 45k, which means I would have a lot of equity to start which I'm not mad about. It's currently rented out blow market rate to a guy who lived there for about 7 years(never late). I wanted to know what would be the best way to get this property from my uncle? I don't mind doing the traditional way but I just purchased my primary home January this year.