How to structure a Flip (i.e. is it possible)?

[Jay V.]

I have a potential deal in an area that I'm very familiar with.  I'm a new investor and ultimately want to do buy and hold rentals, but this appears to be a prime candidate for a flip.

Property Info:

ARV: $285k

Repairs: $50k

Purchase Price: $140k

I don't think I'll be able to convince my wife to let me use more than $25-30k in cash (obviously this situation gets easier if I use more cash) and I have a primary residence so 203k isn't possible.  There's a chance I could bring on a partner that would bring ~$20k in cash as well.

So, with ~$30k or $~50k is there any way to get this done?  Otherwise, do I just need to go to a hard money lender if I want to try and get this done?