Complicated property, easy going owner

[William Salas]

Hi ya'll! Would love any input/commentary here.  Trying to decide if this is worth moving forward on.  

So I've been talking to the owner of 3/1 property she's interested in selling. 

The target property is vacant and has been for some time. I was able to go inside and it needs an entire rehab.

Here is what I know...

- Property is 3/1 and 728 sqft

- ARV on the property is about 80k (lower income neighborhood)

- There are back taxes due of almost 6k

- It needs an entire rehab pretty much

- There are 3 liens on the property for being vacant and not up to code.

and the kicker....according to my research there's a loan for $149,600 in 2006 but the house hasn't been foreclosed on?! She says she doesn't have a loan and she def. hasn't paid any mortgage any time recent.

So there's a missing mortgage it seems?!  I called a title company and they were perplexed as well.

I'm trying to see if there is enough meat on the bone so to speak. 

I think I could get it for a great price but I see a lot of potential risk. Any insights would be of great help! Thanks!