He's just walking away, giving me his house for a few back payments.

A seller called this week responding to my Craig’s List ad that I buy houses cash any area, any condition and any situation.

He tells me he has had surgery on his leg and cant work and needs to sell his house.
He owes $137,000 and the comparables come back at just about that or a little less.
He tells me he contacted a Realtor and found out that it would cost 8 Grand to use them, which would probably have to come out of his pocket that he didn’t have.

I looked over the house, it’s a nice 3/2 1600 SF in a good working class area.
I tell him I can buy it for the amount you owe and give you $2,000 Hes asks if I can do $3,000 I say OK if your payments are current I can.
He then tells me he’s a month behind and he needs to stay 2 more months. I explain to him if I have to make up 3 months in payments and give you 3K I cant do it, there just no profit left for me.
I then tell him, you can stay the next 2 months and I will bring the payments current and you can walk away and I will take over your debt. He agreed.
I just got me a buy and hold rental, the payments are only $908 including PITI,
This house will rent for $1100-$1200
It’s amazing to me how with a little bit of knowledge I can work out deals like this.

This seller is facing eventual foreclosure, he would lose his house and his credit, if I didn’t know how to help him. Whats really interesting is this house is 2 hrs away in a nearby city. I will buy it and rent it out and maybe never see it. I can hire a handyman, painter, Gardner etc from my cozy little office.
I want about 200 more deals like this.

Let’s make some Money. Rando

I recently found a house that was vacant and when I contacted the owner, they had walked away from it 3 years ago but it is still in their name. The bank never took it but continues to send them notices. They want me to take it off their hands but they owe more than its worth. Any suggestions for me on this?