Distressed Property question via " How to make the Deal work " ??

[Michael Dunn]

Distressed Property question via " How to make the Deal work " ??  

Hi,

I need some help please on a likely upcoming Distressed Property that will be for sale , and how the Deal would work 

The Current situation:

The Property is Distressed and will need estimates of  $25,000 in repairs

All other LIKELY expenses  ( Lien paid off / Back axes paid / Money the Seller is wanting from the sale in the form of Cash / Closing Costs / Pre-Paids )  =  $70,000 

I will either Purchase it as a Primary or as an Investment Property  ( My Money situation come the time of purchase will help decide which route I go  )

Since I will be buying the Property from " Scratch " , and that $25,000 in repairs/renovations HAS TO be done 

How would this Purchase / Transaction work please ?

I will need the $ for EVERYTHING ( Repairs , Lien paid off, payment of the Back taxes , Cash money that the Seller is wanting from the sale , etc.  ) 

I will Only have the $ to pay for the Down Payment 

My thinking Is , is that I will have to purchase it as my Primary and use a 203K FHA loan , given the amount of repairs/renovations that are needed

How would the Seller get paid  ( the $10,000 in cash that they are wanting from the deal  ) ?

How about the Lien getting paid ?  

The Back Taxes being paid ?

Does all this get paid Out/Off , as soon as I close on the Property ?

Thank you very much for the help