203k loan or lower purchase price

[William Murden]

I am currently looking at a triplex in my area. The numbers work good for my first owner occupant. However, there is a lot of termite damage and the lines aren't sub metered. The sub metering isn't that big of an issue. I am more concerned about the termite damage and cost of repair. Being that this would be my first deal, should I get quotes for cost of repair and then take that off the asking price or do a 203k to get it up to par? I have no problem walking away from the deal, but since I joined BP, I thought I'd reach out for some advice. Thanks in advance.