Buying neighbors house (Wholesale or Hold)

[Chris Mayfield]

Very green and very new to the game. I have a neighbor who is moving quickly to Texas from PHX. He wants to get rid of house pretty quick they are just coming back on weekends. Here is scenario and looking for advice to move quickly before he rents or lists with agent. Paid 330,000 in 2007. Going rate in area for this house is 275 to 305. How would you approach? I greatly appreciate any advice.