FHA Loan won't cover due to outdated wiring

[Alexander Bowman]

I got pre approved for an FHA loan and found a 4 unit building in my price range that I would like to house-hack living in one unit and renting out the other three, however due to old wiring that would need replaced my FHA loan will not work for the loan. I could go traditional loan and fund the repairs myself but it would eat into what funds I have for other much needed repairs. Has anyone ever worked with an appraiser to setup a deal to have the owner cover the cost of the repairs and then pay them the difference through my mortgage?

Not sure if this is possible. Thank you

[Alexander Bowman]

I have been doing some research into the 203k loan. Just a lot of red tape and checkboxes to check off to get it, so it's taking a bit of time. Thank you all for your input.