Here is the scenario:
Property is worth 279,000
He owes 223,200
Wants to subject his loan for 195300
property is 5 units and with cash flow (after expenses and mortgage) 780.00 a month

IS this a good deal or should i employ another strategy

What happens to the other $27,900?

Its a great deal if your right on the positive cash flow. But I find it VERY hard to believe that there is $156 positive cash flow on a 5-unit costing $200,000.

For an answer we will need to know how you came up with $780 a month positive cash flow. But to answer your question, yes it’s a good deal if your numbers are correct.