Need some fresh ideas on a possible

[Minna Reid]

Ok so I'm dealing with this homeowner. He owns a small house that had some fire damage late last year. It is grandfathered residential but zoned commercial and in a so-so area for either. The house is listed and no one wants it. For whatever reason he has not dealt with it much. I believe he is sick and lacks funds. However he owns the house outright and is desperate to make anything work so he can pack up and head south.
I see the ARV on the place at 250 or so and it needs about 70k of work.
My situation is that I am currently involved in a major legal battle and need to reserve my funds to be able to deal with that. If anything I could rehab and resell but I want not much to come out of pocket. He is totally open to any creative financing or partnering or whatever.
I'm at a loss as to how to structure it so that it makes sense for both of us. Again - I need to keep my cash in my pocket. I need a real creative way to make some money out of this where both of our interests are protected, but we both benefit somehow...largely me.
I'm not sure how to work this. Any ideas?