How to buy and keep?

[Arlene Summers]

Hi!  I'm a newbie who found a home where I developed a relationship with the home owner.  The home needs extensive rehab and the comps in the area have excellent returns even after rehab.  However, my challenge that keeps taking me to a dead end is the solutions to try to acquire the home without personal finances (I'm starting over):

1.  private investor-  can't rehab a home that will be owner occupied.

2. FHA 203k rehab loan - capital?

3. Family -  N/A

Someone shared that there is a way that I can make a short-term loan with someone to fix the home just enough to make it appear habitable to get an equity loan and use that money to repay the person/remodel, then use the equity loan as my mortgage.  I plan on staying in the home for about 3 years until my son graduates and then sell the home. 

Serious suggestions that I can work towards will be greatly appreciated! =) . I know that I will fall.  I hit my ceiling.  I am ready to try another solutions. =)

The owner is willing to sell me the home for $90k with verified realtor comps going for $187k-$207K.  See images below.