Need Help with Financing Strategy on Purchasing SFH

[Joe Vang]

Hello BP,

My sister is welling to sell me her rental property for $200K (SFH 3BR/2BA) and the property has an ARV of $260K after all fixed up. Property well maintain with cosmetic needs of -paint, new flooring, light fixtures, appliances, etc (need about $10K at most). Currently out renting at $1,400 but could easily increase to $1,600. Can add a 4th room later to rent out for $2,000. She owns $80K on her mortgage and wants $200K cash. I would like to Buy and Hold the property but if I can't, then I just wholesale or flip it. Any thoughts on how I could obtain this property?

Property is in Madison, WI. 

3 br/ 2 ba, ARV $260K, Rent $ 1,400