Also, if they seller has no money to put up because of the bankruptcy, what are my options even if I win a case against him?

We can come up with much more Economically viable solutions to the problems many of these cities are facing and make this a win win for all parties involved.

The only efforts taken to sell this property so far have been listing with multiple local realtors and telling friends and family in the area about the condo for sale, offering a finders fee for whoever is able to find a buyer.I am using this opportunity as a chance to practice my ability to market & sell real estate, and perhaps win myself the commission.I am not aware of any central marketing systems in Colombia similar to the Multiple Listing Service, and craigslist doesn’t exist in Colombia either.

You won't win based off of that.

Win win.

  $ wise, it will be the least expensive (interest rate) to refinance my primary home to a 30 year mortgage, with enough cash out to payoff the rental property.That would change my total combined payment (including taxes and insurance for both properties) to $1300ish, giving me $380 more per month.Dollarwise that makes sense in an instant. 

When that happens, the real estate agent can win a client for life. 1.Seller ContributionsOften misnamed "seller concessions" seller contributions are really a range of incentives or other financial offerings designed to make the deal more attractive and doable for a buyer.Seller contributions that make a deal more attractive must address market conditions while also meeting lenders' requirements and disclosure requirements.Opportunities"Closing cost credit reduces the cash the buyer must contribute at closing without lowering the sales price.

Shortly they will take his home and I know for a fact he won’t be able to pay any taxes anymore.How can I structure a deal where I can create a win win situation for both of us where he can walk away with some money, and I can buy his property before the banks takes it.I was thinking about offering $150k$100k to pay off the loan$20k to pay off the tax debt$30k so he can start again somewhere elseAny feedback is appreciated Thank you

It is a great way to put low money down and set terms that can be a win win for both sides. 

Chances are the seller will pick option 2 and everybody wins.