Modesto area, renter, owner wants to sell, she told us...

[Rarra Avis]

We have rented this place a little over 4 years, the owner wants to sell it, but is willing to let us, as good tenants, pick it up for what is owed on the mortgage.

3/2 with a pool, garage, shed. Several fruit trees, Roof will soon likely need to be replaced, the attic is HUUGE, and full of future potential, houses in this neighborhood stay on the market no more than a couple months, and are in the $400’s

She owes ~$175k

I want to see this work out, because at first glance it looks like just the thing to get me started. I am just starting out with educating myself about real estate, started passively reading into the process just a few months ago and it dawned on me today, my first deal is quite possibly the house I’m in now.

Any and all responses/thoughts/advise/questions will be appreciated.