SUBJECT VS LEASE OPTION

[Robert Livero]

 HI ALL,

A FRIEND OF MINE HAS A PROPERTY THAT IS A BILEVEL THAT THE OWNER WANTS TO TO GIVE ME THE PROPERTY SUBJECT TO THE LOAN ( I'LLTAKE IT OVER), FOR 272K , PAYMENT IS 2017.94 PITI (RENTS IN THE AREA ARE AROUND 1500 -2000) , IT'S WORTH ABOUT 400K , BUT NEEDS ABOUT 100K OR MORE IN WORK TO IT.
THE OWNERS EX WIFE HAD TO GO INTO A NURSING HOME AND THE HOUSE IS LATE ON TWO PAYMENTS,(4,035),
WHAT IS MY BEST COURSE OF ACTION, SUBJECT TO OR A LEASE OPTION OR SHORT SALE? 

UNLESS SOMEONE ELSE HASA BETTER WAYTO DO A DEAL OR SHOULD I PASS ON IT? 

THANKS

ROB L