Calling all creative finance gurus....

[Jim Tiernan]

I have a seller who is motivated but underwater:

ARV: 160K-170K

Mortgage balance: 200K

Rent: 1400

PITI: 1400

Can anything be done with a property like this? I'd need to account for a property manger and maintenance if I bought it. A traditional sale would result in negative cash flow. And from what I can tell a creative finance deal (say $500 a month to seller) would not allow them to pay off the original mortgage.

Thoughts?

Thanks,

Jim