Rookie Real Estate Investor Opportunity - Wholesale vs. Flip

[Erik Sill]

Here's the opportunity I'd like some suggestions with:

• - Lake Minnetonka (MN) SF Home - 3 BR/1BA
• - Needs to be torn down or completely gutted
• - Seller is asking for $650,000. She may be willing to do seller financing since she owns the property outright. Has lived there for 40 years.
• - Comps are $1.2-1.8 million (Literally new builds on each side of the property)

My situation - I could either get the house under contract and go the wholesaling route OR see investors to fund the rehab of the property. (I have not done either. My real estate portfolio includes one duplex after one year of experience. I currently do not have the funds to put 20% down.

Recommendations?