Is this a Short Sale opportunity? (Pittsburgh area)

[Dan Costantino]

ARV: $190k

Owe: $113,5XX

PITI: $1,153 (current now, but they are going to stop making payments: divorce situation)

5.4% APR (30 year started 2/1/2006)

Lender:  US Bank

Repairs needed $65k (ex husband gutted most of the house and started rehabbing but there is a LOT left to do!)

I'm looking to get it for $58,500 or better....

Thoughts?  Is this worth pursuing?  Am I missing any information?