How to use community support for renovating a blighted property?

[Sam Dangremond]

Hello BP community,

I've come across a situation, and I'd love any advice or ideas on how to handle it...

I'm looking at purchasing a blighted property, completely run down, attracts bad elements etc.  This property has been a problem in the neighborhood for many, many years.

The seller is willing to sell it to me, but wants a price that's (IMO) too high for the very poor condition.

Yet.... multiple neighbors and members of the community have approached me, telling me how much they hope I buy it and fix it up, and how much it would mean to the whole neighborhood.  

So, I'm wondering if there's any way to use that community support to my advantage in this deal.  

I'm a pure buy-and-hold investor, so I have to get the numbers to work so that (purchase + renovation costs) less than ARV. And I'm having trouble getting the seller down low enough.... but maybe the community can help in some way? (This is in the state of Colorado, if that helps.)

Any ideas are appreciated!