Single Family Home 5 bed 2.5 bath needs new kitchen

[Matt Burr]

This is my neighbors house that is for sale. They are desperate to move and I have just learned he is basically just looking for any type of offer. Realtor comps say the house is worth about 400k after updating appliances and the counters in the kitchen and bathroom. Possibly a few other modifications probably about 10k in total. He is willing to even go as far as a land contract with 80k down. I would love to take the deal myself but don't have that much cash. I could put up about 40k. I know this is kind of broad but I am open to suggestions on how to work the deal.