Can I do anything with this deal?

[Joshua McGinnis]

I just got my first "warm" wholesale deal, but it is far from a slam dunk. I'm wondering if there's anything I can even do with this.

House is located in Cleveland, OH 44135.

Owner is an elderly gentleman concerned about leaving debt behind upon his death. He is currently occupying the home.

It is a 3 bed 1 bath, 1040 sq.ft.

Here lies the rub: He owes $47K 1st mortgage with 26 years left at a 2% rate. Monthly PITI is $155.25.

House is probably worth $40-50K.

He's open to leaving financing in place.

Is there a deal to be had here?