Purchasing Father in law home

[Jaimise Carter]

I am considering buying my father in law's home and renting the property out. The home needs a new roof, mold problems, electrical problems, basement floods. There is a mortgage for $49k. Comps are $150k-$200k for resale and $1300-$1600 for rent.  I do not have the funds to buy the home right now. 

Does anyone know if he can transfer the home to with the mortgage? I am open to suggestions.