How would you structure this deal?

[Jose R.]

Hi guys, I would appreciate the communities input regarding a property I'm looking at. I would like to buy and hold it, but if the numbers work, I'm open to selling it quickly. The question is: Other than a "conventional" transaction, what is the best way to structure this deal?

Heres the property in question:

-Asking Price $350K (Reduced from $600K)
-ARV $525K-$550K
-Out of state owner (who is said to be motivated to sell) let the property fall apart
-6 bedroom, 3 bath.
-The owner sectioned off the house into 3 separate units: (2) 3 bedrooms, 1 one bath and (1) studio.
-Property is vacant
-Property needs between $50K to $75K in repairs.
-Property is free and clear but listed with an agent (damn!)
-Once the property is repaired expenses are estimated to be about $700 a month (not including debt service)

If you need more information, please let me know. I appreciate your input.

Thank you