Need help packaging a LOCS

[Matthew Powell]

I have recently sat through a boot camp for creative financing and we talked about several different strategies. I'm wanting to find a way to help out a friend in our neighborhood with his situation. He is recently divorced and has to sell his house, but he really doesn't want to move. She will get 50% of the equity after the sale. The asking price is a little high and he has told me he will not budge.
Curious if there was a way that he could sell to me and then I rent to him. I will assume his loan and he pays me his mortgage, plus a little extra. He will now have a higher mortgage payment to me so I can make a small profit, but he gets to stay in the house and not have to pay much in equity to her.