Creative Options to Purchase a Flip

[Scott Gordon]

Thoughts on how to get creative with a house that is in a great neighborhood about to foreclose because both owners passed (old age)? I found the daughter on Facebook and got ahold of her, it's about to foreclose for $100k and the only liens I've found are the bills since her dad passed in January. I toured the house with my contractor friend who would be doing the renovations - it needs less than $50k to renovate the house is worth $~190-$210k ARV. I know there's subject to, buying after it forecloses or trying to buy it before foreclosure. What would you do?

This would be my first flip so would also be curious how you all measure a good deal compared to buy and hold.