Help with a deal - condo

I have a seller who wants me to take over her condo by taking the over the payments.
She is behind 1 mortgage pmt and have a forebearence in effect and 3 pmts behind for the HOA $260/m. Its a 2 b/1.5bath 1050 sqft with a monthly rental potential of $950

Rent $950
Mortgage $700
HOA $260

IF I rent it the would be abt $10-$50 negative every month. It would be abt $1500 to take over, is it a good deal or no.
I was thinking abt taking it over and selling with owner financing or a lease option with a small down pmt and $1100 /m with $200 credited towards the principal.

Most important. Is there any equity in this to justify assuming the mortgage and a negative cash flow? Herbster

The loan bal is $61000 and the ARV is $75000. The problem is the -ve cash flow, in long run it eats up the equity. I want to see if I can charge more rent n get +ve

My thoughts are that if you’re taking over the Mortgage subject2 existing financing then there isn’t much of a spread it. Personally I wouldn’t pay $1100 rent on a 75K dwelling would you? This is a little thin have you thought about a sandwich lease option? Herbster

What is a sandwich lease, please enlighten me?

The suggestions are great and beyond all this you are the one who know its ups and downs.
So take time to decide well.