Since there are two major paydays in this deal (the upfront and again at the refinance closing), you could split the down 50/50 and then the seller would get the bulk of their money once the rehab is done.

In this scenario is there any chance that they could get a loan this soon after bankruptcy when factored in that they would have 60K of instant equity?

I analyze each deal independently and as long as I can buy it and have instant equity and adequate cash flow, it works for me. 

Also, unless you're a cash buyer, ready to put down money in an instant, you're likely not going to get any of these homes.

Instant equity in my primary residence would be awesome.

I can't speak for all investors but it would have to be a pretty good payday for me to get into that situation.

Of course, you said no track record so that makes it tougher, but maybe you just need to give away a bigger piece of the pie to prove yourself.Another possibility is to just wholesale the deal to an investor for a nice payday. 

The fastest way to instantly get credit is to have a responsible adult with good credit and responsible credit card usage add you as an "authorized user" to their account.

I’m curious, so I look up the “property report card” on the county website, and it says that the total value is $195,000.If I buy this property at $170K, does this mean I have instant equity?

I think this is possible because she instantly mentioned that she would take less when she first disclosed the price and the unit needs updating since the previous occupant was in it since the 90s and the one before that, the 80s and neither stepped away from their desks long enough to look around.