A friend is about to lose a property to short sale

[Baha Acuner]

This is my first post and I have never been involved in real estate investing before. So here's the situation. 

A friend , who is about to move overseas for a job, lives in a nice condo in Arlington. The value of the place is about $250 and she owes about that much on it. She was offered a short sale for $200K and she is thinking about taking it. 

Her monthly mortgage payments are about $1200 /month and the cash flow as a rented property would be in the area of $1800-$2000. 

I considered taking a conventional loan and buy the property from her but I had a ch.7 bankruptcy due to divorce 3 years ago. I already have a place that I bought through fha loan and have been paying it on time. Credit score is 699 but no conventional loan people would look at me until the ch.7 discharge is 4 years old 

My question is can she turn over the mortgage to me ? My income is high enough that I can easily make the payments on both properties. Can she do the shortsale to me at $200k? Lastly, I don't have 200k laying around, what kind of bank, credit union, or company would be willing to underwrite the loan for me ? 

Thanks