Attempting to purchase "SUBJECT TO" existing mortgage

[Leon F.]

I 'd like to get some more experienced insight on trying to buy "Subject to"

The homeonwner is moving out of town by the end of the month and wants to get out of mortgage.

3br2bath w/basement

current mortgage payment is $650

$57k remains on mortgage.

My plan would be to get my name on the deed and then make her mortgage payment while seeking to refinance at what should be a lower rate/ payment.

This way I could avoid a down payment and so forth by refinancing.

ARV would be around $75-80k with minor improvements. The roof, water heater & furnace have all been replaced within the last 5 years.

I know I could rent for $850-900 easily. And its probably a "C" neighborhood.

I'd love to here some of you guys input or suggestions.