Possible Subject 2 deal

[Von Dionne]

Hi BP - just looking for some assistance on a possible deal 

I have a possible deal in China Springs TX and need to know the best way to structure it

1. ARV is $230k - Needs 60k in repairs (built in 1976)

2. Owes $120k but the seller wants 30k (150k total offer)

3. Mortgage - p.i.t.i. $1,100

4. Rents -1,400

4. Wants $0 down 

I would like to take the property over using Sub-2 then possibly sell it on a lease purchase for $175k with a $15k option fee.

Is this the correct strategy to use? Any suggestions would be appreciated.

Thanks in advance! 

[Jason Dillard]

@Von Dionne Nope, too much work. And too skinny.