I want to make 2 offers - Cash & Seller Finance

[Sam S.]

ARV is $115k-$130k

Rent in current condition is about $850 / mo. plus utilities

Taxes $200/mo and estimate insurance at $60 / mo. 

Property is 2BR ranch on street with many small ranches.  Nice area and well maintained property.  Property needs new kitchen flooring, H/w refinishing or carpet, some minor plumbing work, updated light fixtures, new flooring in bathroom, removal of wall paper in dining room, paint, new vanity in bathroom, new countertops, and new stove.  Maybe I could paint the existing old looking cabinets, or could get new ones.  It's in pretty good condition for the area.

I've never done a flip on my own, only wholesale deals or flips with other investors who supplied all the funds.  

I would estimate property is currently worth $80-90k if placed on the MLS.

I was thinking offer $55,000 cash as a wholesale deal on an assignment, or $70,000 with seller financing with 4% interest.  

I probably would have about $10,000 to fix up this property if I did the seller financing.  Any advise, specifically with regard to the seller financing?  My plan would be to do the flooring and get a new stove and put a tenant in there for $850+ per month.  I would be willing to keep this as a long term holding.  Let me know what you think.  Thanks.