Double Closing with rehab question

[David D.]

Hi everyone

I am an investor in Philadelphia and Delaware that has a question about double closing (or any other way to do this transaction).

I have contracted with the owner of a multi unit mixed use property to buy it in 6 months for $X. I have from June 1st until the 6 months are up to rehab, list and sell the property. I have contractors and have no problem getting it done in that time frame.

My question is how do I handle the closing? Can I do a double closing or will seasoning issues come into play? Should I have the current owner list it and have him give me the difference between our contract and what I sell it for? I have three other properties going at the same time and can not carry this one as well, but LOVE the deal and know I can make it happen.

Any info would be of great help.

Thanks