How would i make this deal work?

[Bill E.]

I'm looking at a property 2 bed 1 bath, arv of 65-70k. It's being sold as a mortgage takeover with 15k down, with a balance of 29k at 6.5 percent, mortgage end date is 2032. PITI is 350, can be rented for 650-725. To get the arv to 65-70k I will have to put in about 20k. What is the best way to work this deal. I would be holding the property long term. Was thinking of brrrr strategy, but would like some insight from more experienced investors.