How can I help this seller- if even possible?

[Adrien C.]

A very motivated seller reached out to me. He has a rental property which was primary residence but has rented out since was upside down. Current comps put him in the 95-100% LTV (bummer since owned house 10yrs). I haven't seen the house but it would need ~$20K for a rehab and sell based on his estimate. It is currently rented at $875/month which basically is a break even point. He accepted an offer last year at $85k when it was listed but that fell apart as buyer wanted him to fix stuff. He wants to be done with this without putting more money into it (although bring some cash like $10K to table is ok because that's what he would have done if listed deal went through).

Problem is given current condition, no room to wholesale or even buy myself and have any equity. 

I was thinking a sub-to would potentially work especially if rents are bumped to $1050 which is more in line with the market. I am not interested in it myself so how would one set up a sub-to as a wholeser and get paid by the buyer?