hello to all advice in how to tackle this deal

[Homero Jose]

hello all

my friend is going through divorce/separation long story short , he left the house  to start a new family ,the ex wife  does not longer wants to live in the house and she left too , now the house is empty and there was a big water leak he fixed the  water leak but not the damage 

last time i talked to him he was paying $800.00 mortgage on an empty house and paying rent in the new place the new wife which also does not want to do anything with the house

he owns about $80 k to the bank he has $40 k on equity which he wants pull  but also there is a lean of $20 k on the house

comps are about $140 k -$160k  around here, how can i approach  him to get the best deal for him and for me in case he decide to get rid of the property

3 bed 

1bath 

small yard 

doblewide 

thank you for your input to all

•  Homero Jose