Is there a deal here?

[Jose Diaz]

I was speaking to my niece today and found out she has a property that she doesn't care too much about. Not too long ago she was willing to lose it because she owe's more than what its worth. At the moment it has tenants that provide her $3 cashflow a month. This is after a modification, before about $300 was coming out of her pocket. She wouldn't tell me out of embarrassment however I believe its underwater at least $100k. 

I was thinking of subject to in this situation. What do you all think is a possibility? She doesn't care for keeping it or letting it go. I would have to do some more research to get an idea of how much rentals are in the area.

Thanks