Fixing and buying a house from a family member

[Matthew Thompson]

Hi All! I am very new to this and looking to get a start in this fascinating world of investing. I am looking for a bit of advice and some leads for right now. My father recently passed away and left my step mom with their house in Jacksonville Florida. I would like to fix up the house and then buy it from her to get some equity out of it to further invest. They owe about 80k on the house that is zillow estimated around 205k. I guestimate that it needs about 60-70k of work put into it. I don't quite have this much so what would be the best way to get what I need? Is just getting a short term unsecured bank loan good enough? I am also in need of a contractor to do the work, so I am also looking for any good recommendations for general contractors in the Jacksonville area. My last question is, what is the best way for someone to buy a house from a relative? Do I need to get a realtor and organize a closing or is there a simpler way to do that kind of thing? I have VA eligibility and plan to use this house as my primary residence as I currently live out of country for work. I greatly appreciate any feedback!