Subject To/Creative Financing

[Catherine Morel]

Hey BP Family,

I need a little help with my situation. 

I contacted a FSBO and looked at the property.

ARV is (apprx) $215k, he is asking for $138k, owes $125k, property needs about $40k in repairs, the neighborhood is a C+, his current mortgage is $1,400/month, and the rents can go from $1,500-$1,800.

I told him he may qualify for our LAP Program (subject to) at the $125k that he currently owes. Would anyone give me any advice on what else to look for, or if this would be a good deal.