Family wants to sell inherited home, how could I keep it?

[Brandon Phillips]

My father, uncle, and aunt inherited my grandmothers house. The house is paid off and a stones throw away from a hospital, local college, and downtown area. They want to be hands off and sell the house. I think the house is too valuable to turn over to a flipper and be done with it. I just closed on my own condo last week so I don't imagine that I'd be approved for another loan anytime soon nor could I occupy the house myself. My sister just refinanced her condo. She like me has more $$ to invest. I think if we could acquire the property we could get a renter in the home, and in two years cashout refinance my condo to pay for renovations of the property of interest. Could anyone offer any expertise/advice they had in previous experiences? How could I buy this place? How could I structure a deal that satisfies the needs of my relatives? Is it possible to get financed and under contract?