Financing on distressed property

[Stephanie D.]

Hi - I am a town home and duplex owner.  My goal within the next five year is to purchase a single family as my primary investment and to secure another investment property.  

I recently came across a distressed property in a booming neighborhood.  The roof of the property was badly damaged which caused the first floor to sink into the basement.  The first floor was a restaurant and the second floor is a two bedroom.  The property is listed at $40K with the restaurant equipment. The property is badly damaged which prohibited me from seeing the second floor.  In any event, I am very interested in this property.  The estimated repair cost is roughly $30K with combined monthly rent of roughly $1900.  

Question - what is the best way to secure financing on such unit.  Most banks aren't willing to provide a mortgage on distressed properties especially for such low amount.  I do have some cash, but didnt want to tie it all up in this investment.  Any ideas?

Also, I have keep in  mind how this may affect me securing my single family home within the next year.

I truly appreciate all advice in advance.

Happy 2015