Opportunity? Friend w/ 2 Rental Properties U-side Down WANTS OUT

[Stephen Bagnani]

I was talking with a room mate the other day who told me he had a couple of rental properties. I perked up when he said this, but apparently he WANTS OUT. He said he owes more than they are worth and he's just breaking even with them. I was trying to tell him to raise the rent and such, but apparently he just didn't get a very good deal on them, he feels weighed down by them for some reason, even though I told him to hold onto them.

However would this be an opportunity for me somehow? If I were to work with him? Would it be worth trying to do a subject-to, or refi, or some of these other alternatives. I'm not trying to exploit him, but if I can get a good deal on these properties I would like to bounce it off him. Any advice?

I'm just starting out so I need opportunities like this to get started.