New deal. Will little to no money work?

[Brett Merrill]

Hello BP community,

I am new to REI and am learning the ropes. I have read many of the books, listened to the podcasts and have started my direct marketing. It has already produced many great leads and should be closing on one of them soon. I've primarily been marketing for multi-family homes and plan to use the BRRR technique to further my investing. However, I have come across a different great deal, am not sure what to do with it. The house is a beautiful 3 unit multi-family home, located in a great neighborhood, by a great school and is walking distance to the downtown. The house is turn key and has never had any trouble renting. It is not listed on the market and is currently unoccupied. The seller is motivated to sell due to health reasons and would be willing to sell it for almost 100k under market. Here's the problem: The home is out of my price range currently and turns a negative buy and hold cashflow according to the rental property calculator (due to high taxes, low down payment and estimated mortgage payment). Initially I thought it would be possible to purchase it with hard/private money from a lender, make quick repairs and then refinance to pull out the extra equity to pay off the hard money/private loan. However, after looking into it it looks like no bank or lender would lend (even on a great deal) to someone without an extensive history of deals or collateral.

- I can provide numbers if that helps with the question.

Questions:

1. Should I look for another investor who has the funds and do a double close?

2. Is it possible to find a private lender who would fund such an investment with little to no money down

3. Should I try to offer a lease option and possibly "sandwich" it to save and buy it in the future

4. Should I find private money through family/friends/investors to fund the down payment of a conventional loan and then reimburse them upon the sale of the house?

There are so many creative ways to fund deals and options to sell. I continue to research these options and educate myself however am very confused as to what to do about such a deal. Or what type a deal it even is.

Thank you!