Big stucco problems! What are my options?

[Bonnie Low]

We are in CA looking at an 1,100 sq ft home in the $80,000 range to flip. Comps are about $140,000 so there's a decent return, but it's not huge. But the house is stucco exterior with tons of cracks in the stucco that have to be repaired. 2 stucco Contractor's have quoted us $12k - $15k to sand blast, patch, apply a new "brown coat" and finishing color coat. This blows the deal at this price so I'm wondering what my options are? Placing siding over the stucco is a possibility but the expense could be just as much as the stucco repair. Is completely removing the existing stucco then re-stuccoing a cheaper option? I'm considering walking away from this deal but the property is about due for a price drop based on days on the market so I want to fully explore my options before we walk away from it. Stucco is new to us so we could use some advice from BP folks.