Is this a feasible wholesale-able deal? Wholesale - Newbie

[Minh Lai]

Hello! I received my 1st call back via direct mail! 

Here are my rough estimates
ARV: 150k
70% = 105k
Repairs: 10k* (I actually have no idea, I'm going to check it out in person on Tuesday. He mentioned nothing major at all, all cosmetics.)
Fee = 5k

105-10-5 = 90k

The issue is that he has 2 mortgages, 1st for 92k (behind by 12k? I need to clarify) and 2nd for 20k. That's a total of 112k.

Even if he accepted the offer for 90k is this a feasible deal for investors? 

What should I do in this situation?