What would you do?

[Curtis H.]

Home listed for $500K (Total beater in great area)

On market for over a month so clearly they aren't getting near that number

2/1 900sf

Needs complete gut job and possible addition of bathroom and bedroom on same level

Socal remodel prices for a newbie ($175-200sf)

ARV after the rehab $575K

Scheduled to be SOLD at auction 9/2, $387K owed on the house, $32K behind on payments

What would you offer and how would you structure it? I was thinking bring the loan current and take over sub2 or do lease option and offer to pay agent commission...or just flat out offer what's owed plus agent commission, and use a 203K to do the repairs and not pay out of pocket.

If I take over Sub2 in CA, will that keep the taxes the same? Because they are really low :-)

Thanks!

Curtis