Advice on how to proceed with a deal

[Kingsley Ogwuegbu]

Hey BiggerPockets members,

I am currently sitting on a $120K HELOC. My contractor recently approached me with house that's being sold for $115K (needs about 10K of rehab work to it nothing too serious). I am trying to get the house for $85-$90K, potential ARV is $130K.

My question is:

1) Should I use an FHA on it

2) or pay cash and BRRRR?