Sub2 Help!!! (Philadelphia)

[Elijah Little]

Hello BP community, my name is Elijah. I'm a newbie investor and I'm still fishing for my first deal. I have a deal with a lot of Sub2 potential, but I'm not sure how I should structure the deal or what contracts to use. The seller's motivated and just wants to get rid of the property with a little bit of $$ for her equity. She's not pressed for cash as she too is an investor, she's primarily concerned with alleviating the burden more than receiving any $$ at this point. Initially I wanted to do a wrap, but the property is cash flowing with a tenant occupant, making it more valuable in my opinion. My question is; is there anyway strategic ways I can acquire this property Sub2 having no money to cash her out for her equity? I really would like to keep this property for myself rather than wholesale it or evict the tenant to do a wrap.

Here's the #'s: Mortgage $470.00, Balance $55k payments are current, Rent $700.00, Market Value after 2016 $84k

P.S. Any advice or direction with this matter is greatly appreciated.

Thank you for your patience,

Elijah Little