How Can I Help? (Is this a deal...)

[BJ Henderson]

I have a seller that is going into Foreclosure. He hasn't made any payments in over a year totaling between 20-30k behind. The property is worth $232,000 and he owes about 200k. ARV can go as high as 250k. The bank has agreed to do a short sale of 189k. The place is 3,066 sq ft. 4bed/3bath lake front property.

What would be my best option to use here? Is there a deal here? If so, is this a good subject-to deal or a flip?