Buying distressed property but seller owes bank!!!!!

[Leeana Cordero]

Need some advice. I am looking to buy distressed property(3 BDRM, 2 BTHRM 1.4Ksqft), it was listed as 60K owner is willing to take 45-48K because he said he owes the bank. I was going to put down $1,500, try to use the BRRRR method and then with the refi just pay him the 44-47K left on the house. (Is this even do-able?) Also, for rehab use a hard money lender and pay them out with refi as well. Need some advice I've never done the BRRRR method. I do have other properties in the area and I am kind of familiar with the market here in VA. If paying out the seller with refi money should I use a contract ? If so, examples please.