Good deal or bad deal?!?

[Erica Hatfield]

I got a call from a absentee direct mail campaign. Homeowner is interested in selling. Renovation was started but still needs to be finished. Owner can straight out and said comps were 400K and he would not entertain 200K. The place has potential to be converted from SFH to duplex. The mortgage info states 155k and assessed at 28K. I asked owner was there still a mortgage but question sort of ignored. Homeowners seems pretty open to ideas I want to present seller financing and I fund the rehab/mortgage renovation is done and property sold. I think I heard a BiggerPockets podcast like this; but I can't find it. How can I negotiate the owner carrying loan while I renovated and sell to end buyer