Deal Strategies - Need Help Structuring a Deal

[Wesley Williams]

I have a multifamily building that I'm looking to purchase. It's in bad condition and I estimate the property to be worth about $260K currently. The owner took out a mortgage a few years back at about $280K (before they let the property go to ****) and wants to sell for $300K. I'm sure I can get this sale price down to $285-290 - she just wants to bring no money to the deal/break even. I estimate repairs to be $45-65K. ARV is at least $370K (really closer to $380). This is an awesome cash flow opportunity for me so I want to make something work.

Any thoughts on how to structure this deal? I know the owner so I have a lot of flexibility in how to approach this deal.