Calling all expert investors !!!!! Check this out !!!

[Marcus Martinez]

So I'm looking at this deal structuring exercise and I'm interested how all you experts would structure this deal in a creative & profitable way. Exercise details are listed below. Your Resources: $15,000 Cash Sellers Situation: An extremely motivated seller calls you off a "cash for houses" bandit sign. He is 5 months behind on his mortgage payments and the foreclosure auction is in 2 weeks. The house is a 7 year old 4 bedroom, 2.5 bath (2,396 sq. ft) one story house in Dallas, TX that he purchased from the builder. The seller says he owes around 127,000 but is not sure of the exact amount. He was previously in the military and has a VA loan that he wants to be able to use again in the future, but knows that if the house is foreclosed on probably won't happen! He is the only one on the loan and the loan is serviced by a local credit union. Loan Details: PITI: $1081.42 Interest Rate: 5.25% Type of Loan: Conventional 30 yr. Fixed Rate Mortgage The house currently needs around $4,000 - $6,000 to fix it up (new kitchen appliances, interior paint, carpet in the master bedroom, and minor landscaping). Roof, plumbing, electrical, and A/C unit are all in good condition. In its current condition the property would rent for around $1,700 - $1,900. Seller thinks the market value for the property is approximately $140,000, but you find 2 new comps that just sold in the same neighborhood for $156,000 and $161,000. Prices are rising due to low housing inventory. How would you structure this deal ???????