Need help with this one.

[Jordan Venjohn]

A friend of mine who knows me very well and knows I have been slowly buying rental properties asked me if I would be interested in buying his brothers house. I said sure let's go look at it. He walks me thru it and I can tell from my experience, the gutters and roof need replaced but the inside of this 5/2 2200sqft home is really nice and has a tenant moving in and they will be paying 1300$ a month. Ok cool, soo, Today I looked at comps and the ARV for this house would be 210k-220k. I got some of the financials and they owe 134k on the 1st and 7k on a 2nd mortgage. His brother has been living out of state for the past 8 years and is over owning 2 homes. He said he would take 15k " "cash" to just walk away "as is" right now. Which I can do but I'm not familiar with how to structure a deal like this? I like the equity this property has and new tenants already moving in. I would like to avoid a lender but would want to own the property in my name and refinance some time in the future. I'm still below the 10 house cap for my own name. What do you guys think, ? Please comment ! Thank you -JordanV