Buying Family Owned Property for First Deal

[Jon Kamantigue]

Hello Biggerpockets community! I have an interesting situation with a property that my parents own. My mother wants to cash out a SFH townhouse (for retirement) and offered to sell the property to me and she would provide 30K kickback for keeping the property in the family. My sister and brother in law are renting it out now and plan to live there thru Dec 2016 but most likely Feb 2017. The unit needs some work. New furnace and possible AC, deck refacing, plumbing repair for one bathroom (ceiling leak), and 600sqft landscaping under the deck are the major updates needed. I'm trying to put this deal together, but given that this would be my first deal, I'm not sure how to follow thru. She wants to sell at $250K which I think its close to FMV given the repairs needed. If I fix it up, I feel I can get force the equity to $265K possibly $270K since there is one comp down the street that sold for $278K. I want to make an offer but I don't want my sisters rent to go up from $1450/month. I normally wouldn't do business with family but 30K is a large incentive for me since I have little capitol to start. Im trying to order an inspection for next week so I can figure my rehab cost. My question is about the topic of Subject-To or Seller Financing? I feel I can come up with an offer once I figure out my AVR minus all the costs associated. But funding is my problem. I feel like offering to take over payments would benefit my parents the most since this money is for there retirement. I'm just not sure how to proceed from here. Any feedback would be great.