Potential first deal questions

[Benigno Cunanan]

Hi everyone! New investor looking to find my first deal in Northern Virginia. I may have just found my first deal but have some questions about it. 3 bed 2.5 bath in Northern Virginia where comps are around $260k. The owner of the house just wants out cause of all the maintenance and repair requirements the house needs (basically needs all new roof, HVAC, floors, windows, kitchen). He owes about $210K on the mortgage. What options does he have to sell this to me without short selling it but still giving me a good deal where I can purchase at around 70% ARV? If he agrees, would it be beneficial for me to just take over the loan? Would he need to short sale if that happens? Is it smart to do that deal of taking over the loan knowing the loan amount is $210, no down payment needed and comps are worth $260? Please help! Thanks everyone!!

[Young Moon]

Actually 260k for a 3 br sfh in Nova is really cheap, so it means the place is probably in a rougher area.  I agree with other posters - this deal doesn't have enough meat, so I would pass. Although I havent seen it, given your description of needed repairs,it looks like repairs alone are going to run you 40k - 50k probably