Need help with due diligence on a Note (first attempt at this)

[Mike Makkar]

I'm a Note noob. Need some help analyzing.

Property Valuation = 66k

Note's Unpaid Balance = 25.2k

Note Sellers price = 21.6k (standard 85% of UPB)

Sellers claims note "performing", but has unpaid taxes of 8.5k

Loan maturity in 5 months with balloon of 25.2k payment

Chances are this will foreclose! I spend 21.6k + 4k + 8.5k = 34k for a property valued at 66k (50% discount). What else am I missing here? Any other contingencies to plan for? Is 50% discount worth the trouble of a foreclosure and getting it back to performance?