Getting ready for first deal, questions!

[Elijah Tatum]

Hello everyone! This is my first time using bigger pockets, but I am beyond ready to start investing, and all glory be to God I may have a deal that is potentially falling into my lap! My old neighbor has been renting their home out but their last tenant has been awful and done a pretty good number on the house. The owner has now become the typical distressed landlord who doesn't really want to get rid of the preoperty but is tired of it. There is a lot of fixing up to do, and I wanted to see if I could get the property and owner finance it. I had also thought about doing a rent to own strategy because it is a fairly large 2 story (2800 - 3000 Sqft I believe) great l home in a nice neighborhood, but I am unfamiliar with how to really present the deal and make it a sweet deal for everyone. And I don't really know the in's and outs of owner finance and how I would eventually refinance the property with a loan.

So I want to owner finance and offer a but low,

Fix up the place (wanted to try either using equity to finance that, so would I do a hard money loan and then repay after the refinance or is there a better way to go about this)

Rent it out to tenants,

Or do a rent to own which ive heard that it is more profitable than regular renting.

Could I get some advice on this?