Seeking creative options to purchase specific off-market property

[Alissa Schmitz]

I heard about this off-market deal and I'm wondering if I can make it work. I'll post the property details below but here's the situation:

Owner recently purchased the property this past April (5 months ago) but now has to sell due to personal reasons; would rather not go through the hassle of listing. She will have to rent and would like to stay in the general area for school reasons. I'm looking for an investment property.

- purchase price: $287k; mortgage (from internet): $272,650

- estimated current value: $272,260 (RVM on RPR)

- 3 bed / 2 bath SFH

- potential rent: $1400 (Bigger Pockets estimate); listings in the area for $1700+

- near 2 universities

- potential add value by finishing attic (690 sq ft); otherwise no rehab needed

The owner said she would be asking $305k in order to break even. Regardless, I think the way I can help is to get her out of her current financial situation as easily as possible and have her walk away with some cash to put down towards rental. Her budget for rent is $1500-1600. I could rent the property back to her until she finds something else. Even if the opportunity isn't a "home run" on paper right now, I think there are appreciation and higher rent opportunities in the long-term.

I'm trying to think of different solutions - ie, taking over her mortgage, or paying it off, or transferring the property to LLC then assigning to myself (or my current LLC).