Outstanding! 

Instead of them collecting the loan payment for x more years you offer to pay them a lump sum at say 80% of outstanding balance.

I assume I would have to satisfy the outstanding tax, and the 4 judgements from GDOR and the county. 

Owners debt heavy (1st mortgage $219k, 2nd mortgage $42k) Sales comp $255,000 July 2017 (I walked this one and it had basement water issues, near highway and less land) My offer would be:Assumed their 1st mortgage for $219k.

There are many strategies to "Seller Finance" a property with an out standing mortgage Wayne. 

However you will not receive the deed at closing considering the seller has an outstanding mortgage on the property. 

I ask because I came across a firm offering deals like this:Purchase, rehab and flip a distressed property, timeline 6-18 months.Minimum Investment $100,000Above $500,000 and an investor can appoint a member to the management boardMinimum asset price $1,000,000Management Fee: 2.5% of invested fundsManagement invests 10% alongside investorsDeveloper invests 10% alongside investorsSuccess fee of 50% on returns above 8%My main question is whether the 50% success fee on top of the management fee is highway robbery, or pretty standard on larger deals averaging 30%+ in such short timeframes?

I say focus on finding a new tenant now.. and in 2 months, deal with the remaining month outstanding if it's not rented... also-- make sure to sign a lease termination agreement.Good luck!

@Steve Vaughan  I have spoken directly with the bank and they are just want the borrower to pay the outstanding balance and continue making payments.   

It’s an acre of undeveloped land off the highway.