I need help with an offer on a flip.

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A little backround on myself: I browse bigger pockets a lot, this is my first post. I have flipped 3 homes, I lived in 2 of them to get around taxes. I am getting ready to buy a 3rd to live in for 2 years to avoid paying tax. We have bought reo's or short sales so far. I found a home in a neighborhood that I own a rental in. It's a 1950's cookie cutter neighborhood where every home is the same (936sqft 3/1) homes in decent shape sell for 104k to 110k. The home I am looking at is on a smaller lot than the rest. It needs a full gut, all mechanics and everything else. It is owned free and clear and was a rental that ended up being rented by a pot dealer who used it as a grow house. It's been vacant and listed for sale for over 200 days. It's listed at 70k. I think the arv would be close to 110k as everything would be new which would put it above anything else that has sold in the neighborhood in the last 12 mos. I believe it will take 40k to get it in perfect shape. I want to get the place for the low to mid 40's. The electric is violating all sorts of code and I believe it would be an issue to get a mortgage on it. We are offering cash. I want to write a letter with my offer explaining that selling to anyone besides a cash buyer will be problematic and "sell" the idea of selling to us for a low price. Has anyone done this? Any advice/suggestions?