Is this a deal?

[Eddie T.]

Hello all I need help analyzing this deal whether it makes sense or not.

Owner owes the bank 36k on the mortgage with 26 years left. House is worth 40k but has been vandalized so would take about 10k to get rent ready.

My plan would be to take over the mortgage payments subject too with 0 down as he is losing $400 a month by it being vacant.

Monthly Rent $950

P&I   $189

Tax  $ 183

Ins   $ 50

Maint $ 80

Vac    $ 80

mngmt $ 95

Capex $ 47

so cash flow would be $226 a month