Throwing it out there, What would you do?

[Zachery Buffin]

Alright guys, I like analyzing deals and this one is a doozy, this guy wants out desperately and I might take it honestly. I have no assets or teams built up in Florida but that is not an impossible hurdle. I think newbies get scared of these monsters and of all the reasons why it won't work. Just to help get your mind to exercise a deal in a safe space with real numbers I will post this here. Also I might learn something myself which is always the goal, so here is the set up...

I have a line on a 8-plex in Florida for 140k if I don't try to underbid (which of course I will and expect that they will take my initial offer of 100k) but lets say that I do pay the 140. What I can assume here is that I need to completely remodel this beast if not outright tear it down and start over, the estimated repair costs are 120k. The after repair value is estimated at 400k. The average rental in this area for efficiency or one beds is over 1000 but lets say 900 for being conservative. 

What I want to know, or I guess the discussion I am trying to create here, is what would you do with the property if you found this deal right now. The constraints are as follows, 1) you have no money in hand, no liquid assets. 2) You have never done a deal in the area so hard money is a little harder 3) You have no team in place. So how would you go about securing the deal, what would you do with the property once you got it, what would your exit strategy be?