Distressed home going into foreclosure south texas

[Spencer Hansen]

I walked through a single family home today that is in need of some repairs. Its ARV is $120K, and is in a good neighborhood. The homeowner stills owes $88K and needs $10K to get current. For $5K the house can be made rent ready, but to make its true ARV the home needs $20K in repair. Foreclosure preceding have already begun. Is there a creative way that I could make this work? It would be a great rental. Could I buy the title to the house for a nominal sum, pay the arrears, and take over payments

looking for advice,