Neighbor wants to let home foreclose but I think it can rent

[Trey Williams]

My neighbor want to let her home foreclose ( info found out through neighborhood conversation) but I think it can rent and cover the mortgage. This not knowing her mortgage but Im guessing its $1,400 and the home can rent for $1,700 - $1,800. The home needs minor repairs like holes in the walls and there is a sections that is not finshed but can be done for a few thousand, just drywall . Would this be a good situation for taking over the payment and renting out to save her from foreclosure and saving her credit and gaining a great rental in the process? I have not approached her about this yet but just want some ideas of how I could make this work for the both of us.