Found an opportunity, unsure how to get there.

[Nate Mur]

Hi everyone,

My neighbors house has been sitting empty for 2+ years. He's passed, bank is selling open market. 2/2 otherside of the wall from my twin home. 

It's outdated but listed at "Move in ready" judging from the yard when we moved in, consensus of neighbors and listed photos it's most likely in good condition after some cleaning. 

The pros - sitting on market since April - they listed extremely above market and still needing to come down. 

owner would occupy the other side and familiar with condition of home (at least structurally on my side)

Great neighborhood, mixed value homes from 1980s, some being updated. Affordable due to lot conditions (small hillside) and townhome/duplex style layout. 

Shortage of rental housing available. Comps around 1600. 

Cons - no idea how to get there from here.

Is it better to risk the equity and great interest rate on my home by refinancing and putting the funds into another home mortgage, or finding a way to find a cash buyer to deed property from - possibly losing the opportunity but not holding as much risk.

This would be our first deal made on a house intended for income property ( we would eventually move into this side and use our 4/2 for the rental) the fear to jump is kicking in, not sure if this would be the right time or wait until we have some cash savings to find something...

Any info is greatly appreciated!