Advise on First Sub2 or lease to own option

[John Lucas]

I’m a realestate investor with experience only in buying and holding but unfortunately using my own money and bank loans which wreaks havoc on my debt 2 income ratio.  Now looking for advise: Fort Walton Beach great neighborhood seller asking 126k not finance capable due to repairs. I’m tapped due to debt to income ratio so can’t qualify for a loan of any sort until I sell some Properties. Seller owes 126k; repairs roughly 10k which I will do myself when I move into it. Can’t move in until June but I’d like to get the property locked this week. Comps sales when remodeled around 280k. Looking for guidance on options. I’m thinking going under Realestate contract with 5k cash earnest with a nonstandard closing of 1july and deed on property in order to due the work. Is this even a possible option? 

Also no equity in this home that’s why I intend to move into it after I retire from military in June.