Question about Deal in Berkshire Subdivion Dallas 75220

[Raina Wells]

I have a deal in Dallas, Tx 75220 zipcode in the Berkshire subdivision coming up off market only.  The owners have an unusual wish list so bare with me.  

The home needs work and the owners are elderly and on a fixed income. They would like for someone to repair the home, roof needs repair, foundation , kitchen redone, make the bathroom accessible for them to use and a few other items. Depending on how elaborate the cost can easily get 50,000 to 75,000. I have not seen the inside of the house yet so the rehab cost range is broad and what they gave me. The ARV is in the area of 235,000 and up but the home can be torn down and a new one build for 550,000 and up depending on the size of the home etc.

The owners would like to live out the rest of their life out in the home and willing to pay taxes and insurance.  They feel that they cannot afford to live anywhere else.

I know what you guys are going to tell me and I told them to get a Reverse Mortgage but for some reason they do not want to do that.  Not sure why. So here I am.

Now I am posting this for several reasons.

1. To get advice:  If someone has done a transaction like this… What are the do's and donts

2. If you are interested in a deal like this send me your terms.

I feel this deal is perfect for a developer or an experienced investor.  I informed them that I would shop around to get them some feed back.  Thank you in advance for you advice.