Potential Subjuect-to???

[Edward Beard]

I seem to have a very motivated lead that really wants to get rid of her property. However, there are a few nuances that I have to overcome so that I can properly convey the right message. She mention if I were to just "get rid of her mortgage", I can just take the home.She also stated that she was about ready to just let it go into foreclosure. Immediately, I thought this would be an excellent candidate for a subject-to financing.

Here is what I was able to get out of her. She is currently renting the property out for $1100 (tenant just renewed in March), her PITI is $760. According to her, the balance of the mortgage is ~$181,000. Comps indicate that the property is worth $130,000

I know this is also a candidate for a short sale, but I have no clue where to get started with that. Thoughts?