How does these numbers work?

[Terrell Sapp]

I went to see a house today that I plan on wholesale, the guy has his friend renovating the place (its not occupied) 

-The guy thats renovating says estimates are about $10k remaining repairs

-The homeowner says he owns the bank $280k

-Also says based on tax accessor is $370k (we all know thats an estimate)

-His asking price is $400k

As far as the ARV I'm going to check Agentpro247.com it does show comps that sold.

All advice or insight is gladly appreciated.