my neighbors home is my first investment...Help!

[Raphael Pizarro]

Good afternoon my friends,

Raphael Here, new investor, and when i say new, that literally means, this will be my first deal that landed in my lap and I can really use some help on this. (lol) So quick synopsis, i have saved about 80k, and just recently my neighbor, the sweetest lady in the world passed away. We looked out for her yard and garbage etc. I met her family yesterday and they are looking to sell. I am a realtor as well, and i would like to purchase the home myself. But here is the kicker. I would love to purchase it from them on either an owner-financed deal or perhaps an all-cash offer. The home requires some work. There are a couple of barriers i am facing. and here they are

1) I just refinanced my own home and don't know if this will hinder a purchase

2) My personal mid score is literally 620 right now

3) I have no debt other than credit cards and the new mortgage payment

The homes comps i have run gives me a rough estimate of 274k

what would be your suggestions on this deal? I am still unsure of how to estimate the repair costs and ARV so using the tools are a bit confusing right now.

my questions are?

1)what would be your suggestions for financing this deal?

2) Which would be a better strategy, buying less for cash, or attempting the seller-financed route, and seek to find a tenant?

Thanks friends, I appreciate your help on this!