Wrap Trans, Sub 2 or neither?

[Albert Paul]

A colleague of mine has a deal he is trying to structure but has no idea which or how to structure it. Scenario:

Property worth $170k

Existing mortgage $130k

Repairs about $2000 to update

Foreclosure "in lieu of"

Buyer willing to commit between $100k-$110k

Is this deal even worth it for him to do and if so, is this a candidate for a wrap transaction or "subject to" or is that the same thing and how does he structure such a deal?

He didn't say how much the mortgage payments are but everything is current.

I kind of want to know myself for future reference, so if anyone can help shine some light on this topic it would be greatly appreciated!