Wholesaling a Subject 2 Deal?

[Ali Barry]

I’m looking to wholesale a subject 2 deal in Chicago. 
Here’s the specifics, the property is worth $180k - $200k arv.

Mortgage balance is $98,851.75.

Monthly PITI is $632.25.

Interest rate is 4.625% and the mortgage is current. Next payment is April 2nd.

Property can rent for $1,250 - $1,400

Property is in good condition but it needs cosmetics. I’d say 20k Max. Seller is willing to accept $5k - $10 and walk away

Here are my questions.

1.) the current owner is deceased but left an affidavit (just forgot the specific name of the document, but it’s not a will) to his son. Would the son need to go through probate for the deed to be transferred? Or would an affidavit of heirship suffice? Usually a affidavit of heirship works but I’m not sure since it is a subject 2 deal.

2.) The property taxes are under a senior exemption but since the owner is deceased, if the deed to transferred to my entity, will the taxes increase or will the exemption stay in place?

3.) Can I actually wholesale a Subject 2. Will it have to be an assignment or can it be a double close? Or either one?

4.) What are your thoughts on this deal? Would you pursue it? Any advice?

Thanks soo much I’d appreciate any feedback given.