Need Assistance on this Subject-To

[Charles Willie Harris]

I'm working on my very first Subto and that I'm trying to Wrap on Seller Finance. What I need help with is, how do I best determine what the Wrap purchase price to offer to a buyer and what down payment makes sense to ask for?

~~Property Details~~
2/1 - 1,000 sq ft
Current Value: ~$122,000
Purchase Price: $102,000
ARV: ~$180,000
Current Rent Rate: $1,200
PITI: $745 (Interest is 5.375%)
Mortgage Remaining: $79,000

~~Est. Entry Fees~~
Repairs: ~$35,000
Arrears: ~$22,000
Cash to Seller: $0
Closing Costs: ~$3,000
Marketing/Acquisition: ~$1,000
Misc/Maintenance: ~$1,300

The seller basically wants out of their mortgage and arrears. The house has been vacant for some time and needs a lot of work.

Where I'm At Now:
What I planned on doing is, to borrow the $22,000 of private money to bring the mortgage current (Arrears).

Then I wanted to utilize Subject-to on the $79,000 mortgage remaining and since it needs a lot of work, I'd Wrap the property as-is to try and keep the Entry Fees down.

Now, this is an ugly house now but once fixed up, it could be worth $180k easy. What would be a reasonable Purchase Price and Down payment here for a Penalty Box/Homestead buyer? I think I'd need at least $26K down from the buyer + closing costs to cover the $22K private money and whatnot.

Now, I don't see how I could market such a property (that still needs $30K of work) for anything more than $140,000 and $30K down seems a little steep?? I guess with good terms (like a 30-year term at 9.9%), I could make it work?

Looking for some feedback here!