House Purchase scenario ............ Needs FULL Renovation

[Michael Dunn]

Good Morning ,

I have a possible deal coming up , and before I get my hopes up , I want to make sure that I can even do it  ( Qualify for it )  / go about having all of the costs for the Repairs rolled into the loan  ( vs me having to pay for them out of my own pocket ) , As well As , me being allowed to do the Repairs myself  ( the majority of them ) 

Current Situation:

The property has been sitting distressed for 4+ years and has a Lien on it 

It needs a full renovation  (  estimates of around  $20,000 .......... Materials only  )

The property is willed to the heir 

He is willing to sell it , but my main question is ...........  How would the Deal be constructed , and how would I be able to Do the majority of the work myself  ( with the heir agreeing to let me do the work  ) , would it have to be written in the contract that he is giving me X amount of time to have the repairs completed ?

As far as Down Payment ........... Would I even have to put anything down ? 

Assuming the Property appraises for $125,000  and the All-In cost comes in at $65,000 

There'd be plenty of Equity in the Deal , that I could easily use it to cover all the Repair costs / Closing Costs / Down Payment ( if I have to put any down ) .  Given the amount of Equity that will be available , could we ( the Lender )  , allow this money to be used on the Front End , to get the property repaired ?

I hope my question makes sense 

Thanks so much for any and all help