Found a great deal, but Wait...

[Jimmy Fazio]

In the past weeks I've been doing my homework on real estate investing and learned some of the basics but now I need your help! I am about to graduate college and noticed one day a house for sale by the owner. I decided that I should talk to the seller and see what the deal was and what they were asking and here's what I learned. The owner is selling his home due to a divorce and just wants to get out of the house (good sign of a motivated seller in my opinion) There is a little work that needs to be done (roof tared and garage shingled) other than that the house is in good shape. The seller is asking 52% of the FMV for the property 158k but the property is appraised for a little more than 300k. The idea with this property which is a 4 bedroom house would be to rent it out to college students for 2 grand a semester each and fill it with 4 tenants. That is a great deal for this area since I went to college here and know prices.

So whats the problem? This! I am new to the investing world in terms of real estate and do not know the next step. Additionally, I do not have the capital myself to finance the deal and owner financing is out of the question for this deal. So, what do I? Do i look at hard money lenders or is there a better way to go forward with this purchase? Also if anyone sees a major pitfall I am not I would be appreciative for the red flag warning.