203k vs. seller's credit pros and cons

[Carlos Lopez]

Hello everyone I'm a new investor and would like to hear your opinion on this deal. I'm currently in escrow for a property for 420k.
After inspections, a lot of issues came up that need fixing: electrical, termites, plumbing, some foundation work.

Repairs will probably run around 80- 100k.

I'm currently approved for FHA at 3.5% down.

My question for you guys is.

1. Do you think it's better to ask for a reduction in price from the seller and use a 203k FHA loan to finance the repairs on the house

or

2. Ask for seller's credit

or

3. Maybe you know of a more creative financing Idea that would make more sense.

I'm interested in the pros and cons of each. i.e.: how it affects property taxes, insurance, speed of getting the loan, etc.

I'd love to hear your opinions on this topic.