Wholesaling Divorce Property

[Fez Moghul]

Hello Friends! I have a situation that could potentially be a good deal but I am not sure how to proceed. Any ideas will be much appreciated. 

So I am thinking about WHOLESALING (this will be assignable option) a property that is owned by a couple going through a nasty DIVORCE. 

ARV of the property = approx $400K (need some repairs ~~ 20K)

Current Mortgage Lien = 294K 

The husband has stopped paying property taxes and that bill, as of this moment, is approx $70K. 

Is it worth it doing an assignable option to buy on this deal when the profit margin is about $36,000 BEFORE I assign it? I am thinking that even if I make a $5K assignment fee, my cash buyer will not have enough of a margin to fix and flip. 

How would you approach this situation? Would love to hear your thoughts.

Thanks all. 

[Hattie Dizmond]

@Fez Moghul Maybe I'm missing something, but if I look at the numbers like this...

{400,000 (ARV) - 20,000 (repair) - 70,000 (tax)} * 70% = 217,000 (MAO)

If I couldn't get into the deal at or below $217k, then it wouldn't be a deal for me.