Creative financing for a property with foundation issues

[Ashley Montgomery]

Hey everyone! I want to say thank you in advance for any direction you can give me.

I have 2 rental properties and my plan was to move into the school district I want my child in sometime during 2024. I was hoping rates would be better by then. I will need to rent out my current primary residence to make my DTI work. There is some work I planned on doing to my current home to get it ready to rent but nothing major other than replacing all the flooring.

Even though it's not 2024 yet, I'm interested in a property that has been on the market since April of last year. The first sentence on the listing says "has foundation issues." I believe that either they haven't discounted it enough to cover the cost of the repair or the repair is major. This also makes me think the current owner is not in a hurry to sell. I've never dealt with foundation issues and I haven't even walked the property.  I don't have a realtor but I have had luck in the past letting the sellers agent be a dual agent. That was on a property with no issues and I was offering over asking price. 

Before I saw this listing, I planned to put 5% down on a conventional mortgage but I know I will have an issue with financing since there is a foundation problem. FHA 203K doesn't interest me.

Any creative financing ideas or just general direction on this topic would be greatly appreciated!