I would appreciate some advice/assistance with evaluating this potential opportunity.

[Tiffany I.]

ok. So a good friend and co-worker of mine (we'll call her "cindy") has a home which she purchased in 2013. At the time her  mother was living in the home and assisting with mortgage payments (although the loan is in Cindy's name only)

Not longer after, mom splits out of state. 

Cindy works as a Secretary in an entry level position and struggles to make ends meet every month. She's tried for over a year to keep a reliable roommate to assist with bills,  but has been screwed over to many times so she's given up.  She confided in me that she is three  months behind on her mOrtgage, and she is considering to look into deed-in-lieu  as a last resort.

i advised her to research possible alternatives with me and maybe we could help each other,  Since I've been interested in jumping into rei for a long while,  and have been already considering acquiring another home as my first investment property but haven't decided on the route to go.  

She's eager to just have peace of mind that she can afford her living expenses and raise her son without the monthly stress of lack of funds. (She was considering downsizing to an apartment akin to the projects, which makes me sad cuz she's my friend:)

Sooo I'm asking for your help here. She's pretty much said she's open to anything at this point as forclosure is surely on the horizon. ...

the home details: (she says she's taken good care of the home since purchase and pointed me to zillow for preliminary info. A fix n flipper had just renovated and sold to her.  If course we made a date for me to come see for  myself but for  now this is what I've gathered)

4/2   (relatively, now) new kitchen, flooring, appliances, paint, carpet

4br  2b, 1180sqft

LOT: 6780sqft

single family

built in 1985

Garage 264sqft

1 story 

although i couldn't find any 4br, 

A home with 1 fewer br(3) but 50 more square feet did sell within the last three months for 98000

Another is on the same exact street as Cindy's home, has 1 fewer br(3) and 41 fewer square feet sold within the last three months fur 95100

Another next street over 1 fewer br(3) and 156 fewer square feet sold within the last six months for 96000 

the area does have several foreclosures,..but overall isn't a neighborhood in which i would feel unsafe living

now, (for what it's worth)she says appraisal when she purchased was 94000, and she bought it for around 92000

Interest rate 3.4%

Payment 677.00/mo

She still owes 89500

Is behind about 2400.00 (including late fees)

I would like some suggestions if possible,  from those more experienced than I (I'm a determined/excited newb) as  to the best way if any to do this

She's pretty much open to anything:)

Or, like i said I'm green,  so this may sound crazy,  or  maybe I'm actually thinking of an actual way of structuring a deal...but what if:

I purchased subject to with an agreement that she and her son could remain in the home for a year,  but only pay half or another- predetermined-amount of the mortgage and i pay the other half. 

She could use that time to save her money

(i offered to help her with a budget regardless of what we decide because the poor woman is clueless about anything financially related. Not irresponsibly so,  though,  was just never taught. .and she's almost twenty years older than me!!)

then after a year she will have saved a few grand to help her get into a better place for her and her son

i would only personally be forking over the equivalent of a car payment for that year:)

Meanwhile i will have saved some of my own money (I'm an rn) to fix the place up and possibly lease option to tenant buyer or another exit strategy

I truly do want to help as much as i can because i believe in karma and all  things related...

But i haven't had but a few days to mull it over so that may not be the smartest way to go about it. ..

i do want to make money on this so if i have to help her in other ways and have her vacate I'm willing and she would understand. 

Or  of this is a crap deal. .lay it on me:)

Thanks so much! -T