Hope for a deal or no?

[Richard Pierre]

Hello successful investors,

So I have what may or may not be a deal? Give me your thoughts. 3/2.5 1700 SQ FT. in Jacksonville. ARV 135K, repairs 30K. Owned free and clear. Currently tenant occupied on a month to month basis. owner purchased it in 2012 for 32K. Apparently there was a fire with the fireplace, and he claimed he put 40K into repairs. His son-in-law is a contractor, and did most of the work. From what I can tell he's not a very good one. He's an absentee owner with his daughter who lives locally managing the 6-8 properties he has in town. She seems at bit annoyed with this one. The tenant is a friend of a friend, and rent is $750, of which she is two months behind. The going rate for the area is $900. MOA for a rehabber is 65K. I offered 55K and of course he says he's not taking nothing less than 70K. I brought up owner financing at 70K, and he said at his age he doesn't want to hold the note. Is this a dead horse or is there still life in this one for a wholesale deal?