Seller Behind on Payments - Typical Wholesale or Sub2 Assignment?

If there's enough equity, can I wholesale a home where the homeowner is behind three payments (no notice of foreclosure yet)? I'm assuming the buyer would have to include these payments into his or her cost estimate. Is it best to offer a "subject to" type transaction to the homeowner, catch up her payments, and assign/rent/wrap/etc if the home doesn't meat the common 70-75% ARV minus repairs? Tags: Dallas, Ft. Worth, DFW