What route should I go?

[Alex Lambert]

IN NEED OF GUIDANCE!!

I recently put a 2 Bed 1 bath half-duplex that's in a prime location under contract for $8,000(Pre-Foreclosure). It will need about $40,000 in repairs and the ARV is around $200,000. I am indecisive on the direction I should go. (The main issue is that I have reached out to several financial institutions & I cannot get financing to save my life) My options so far are.

1. Buy it cash and worry about repairs later (Home Improvement Loan) 

2. BRRRR

3. Fix & Flip

If anyone out there has any suggestions I would greatly appreciate them.

Thx,

Alex