Possible buy and hold deal in Baltimore?

[Morris Lucas]

Hello everyone. I got a deal that came back from direct mail that i am considering **may** be a good first rental property.

Split-level apartment condo, 2 bed, 1 bath on each floor, each unit generates roughly $800 rent. Minimal repairs, as it has been rehabbed. B- neighborhood.

Owner's son called whose parent owned the property, but is now ill and incapacitated. He lives on west coast and initially wanted to sell quick, but there is a 86k mortgage left on it, comps in neighborhood are at around 130k.

I believe given the circumstances, he would agree to possibly 95-100k to pay off debt and be done, as he has said he has no interest in managing or maintaining the place.

My initial challenges and strategies i have been debating..

1) To get traditional financing OR asking owner's son to seller-finance, as if i put a deposit down, and he gets to have a check every month and walk away, and I oversee the tenants.

2)Owner's son has to get guardianship/POA over the property which is couple grand to complete with an attorney, and takes a few months

3)There is a separate duplex next door that is vacant, that i have contacted that owner about that I may be able to contract as well, that could be a nice compliment to this unit.

4)Try to negotiate the mortgage/debt down with the bank since the owner(his mom) obviously cannot pay the note any longer, or can negotiate on her own behalf.

Any ideas on if this is too big of an undertaking? Thanks for any advice, different strategy or tips.