Buying a triplex from in-laws creatively

[Jeffrey Smith]

I currently have a home of my own with some equity I'm sure of but I am looking to buy this triplex from my 2 aunt's & 1 Uncle in-laws...They're motivated being that there parents died and now they just want to split up the funds... They owe about $150,000 but the house is worth about $800,000 give or take...I've been dealing with fund & grow for starting a business but now this opportunity just came about and this was my thinking...1) try to get enough money from fund & grow credit cards to pay off the remaining balance on there mortgage this becoming like my 20% down so to speak...2)have them sign a Promissory note or something🤷‍♂️ giving me ownership until I refinance...3) refinance in hopes to have enough equity to now roll in the 20% down AND pay them all off if they sell it to me for say $550,000+the $150,000 I already would have gave =$700,000... $7500 is what all units together would rent for fyi... I don’t know if I’m off my rocker but this is the angle I’m thinking in order to get this property if anyone can set me straight or in a better path please my time is limited...*note* I also figured if I turned it into a Llc I could take a vantage of bonus appreciation and get that $150k back